WhiteHorse Finance (NASDAQ:WHF) Director Buys $62,728.26 in Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc acquired 8,974 shares of the business’s stock in a transaction on Wednesday, December 24th. The shares were bought at an average price of $6.99 per share, with a total value of $62,728.26. Following the completion of the transaction, the director directly owned 263,698 shares of the company’s stock, valued at approximately $1,843,249.02. The trade was a 3.52% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

John Bolduc also recently made the following trade(s):

• On Friday, November 14th, John Bolduc bought 14,200 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $6.88 per share, for a total transaction of $97,696.00.
• On Thursday, November 13th, John Bolduc purchased 14,100 shares of WhiteHorse Finance stock. The stock was purchased at an average price of $6.90 per share, with a total value of $97,290.00.

WhiteHorse Finance Stock Performance

WHF stock traded down $0.09 during trading hours on Monday, hitting $6.89. 233,226 shares of the stock were exchanged, compared to its average volume of 236,322. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $160.12 million, a P/E ratio of 16.02 and a beta of 0.56. The company has a 50-day simple moving average of $7.20 and a two-hundred day simple moving average of $7.95. WhiteHorse Finance, Inc. has a 12 month low of $6.39 and a 12 month high of $11.31.

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

WhiteHorse Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 14.5%. The ex-dividend date is Monday, December 22nd. WhiteHorse Finance’s dividend payout ratio is presently 232.56%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On WhiteHorse Finance

A number of hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC bought a new stake in WhiteHorse Finance during the third quarter valued at $26,000. Ethos Financial Group LLC grew its stake in WhiteHorse Finance by 2.8% during the second quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock worth $1,793,000 after purchasing an additional 5,616 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in WhiteHorse Finance by 35.9% during the third quarter. CANADA LIFE ASSURANCE Co now owns 24,457 shares of the investment management company’s stock worth $169,000 after purchasing an additional 6,460 shares during the period. Legal & General Group Plc increased its holdings in WhiteHorse Finance by 4.4% in the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after purchasing an additional 6,560 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in WhiteHorse Finance by 11.9% in the third quarter. Blue Trust Inc. now owns 75,437 shares of the investment management company’s stock valued at $522,000 after buying an additional 8,000 shares during the period. Institutional investors own 13.20% of the company’s stock.

About WhiteHorse Finance

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.