Sound Income Strategies LLC Lowers Position in WhiteHorse Finance, Inc. $WHF

Sound Income Strategies LLC decreased its position in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) by 8.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 857,976 shares of the investment management company’s stock after selling 84,090 shares during the period. Sound Income Strategies LLC’s holdings in WhiteHorse Finance were worth $5,731,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WHF. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of WhiteHorse Finance by 13.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock valued at $468,000 after purchasing an additional 5,715 shares in the last quarter. Northstar Advisory Group LLC purchased a new position in WhiteHorse Finance during the second quarter valued at $87,000. Ethos Financial Group LLC boosted its holdings in shares of WhiteHorse Finance by 2.8% during the 2nd quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock valued at $1,793,000 after buying an additional 5,616 shares in the last quarter. Legal & General Group Plc grew its position in shares of WhiteHorse Finance by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after buying an additional 6,560 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of WhiteHorse Finance in the 2nd quarter worth about $368,000. Institutional investors own 13.20% of the company’s stock.

WhiteHorse Finance Stock Performance

Shares of WHF opened at $7.19 on Friday. The company has a market cap of $167.12 million, a price-to-earnings ratio of 16.72 and a beta of 0.56. The business’s fifty day simple moving average is $7.19 and its two-hundred day simple moving average is $8.04. WhiteHorse Finance, Inc. has a 12 month low of $6.39 and a 12 month high of $11.31. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.22.

WhiteHorse Finance (NASDAQ:WHF) last posted its earnings results on Monday, November 10th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03). The company had revenue of $17.69 million for the quarter, compared to the consensus estimate of $18.43 million. WhiteHorse Finance had a net margin of 12.91% and a return on equity of 9.93%. Research analysts anticipate that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Monday, December 22nd. WhiteHorse Finance’s dividend payout ratio is presently 232.56%.

Insiders Place Their Bets

In other news, Director John Bolduc acquired 14,200 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of $6.88 per share, with a total value of $97,696.00. Following the completion of the acquisition, the director directly owned 251,985 shares of the company’s stock, valued at approximately $1,733,656.80. The trade was a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stuart D. Aronson bought 14,000 shares of the stock in a transaction on Wednesday, November 12th. The stock was purchased at an average cost of $6.92 per share, for a total transaction of $96,880.00. Following the acquisition, the chief executive officer owned 50,000 shares of the company’s stock, valued at $346,000. This trade represents a 38.89% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 43,300 shares of company stock worth $298,816. Company insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research raised WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Weiss Ratings restated a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price target on shares of WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $7.75.

WhiteHorse Finance Company Profile

WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.