WhiteHorse Finance, Inc. $WHF Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC cut its position in WhiteHorse Finance, Inc. (NASDAQ:WHF) by 91.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,922 shares of the investment management company’s stock after selling 781,054 shares during the quarter. Sound Income Strategies LLC’s holdings in WhiteHorse Finance were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC acquired a new stake in shares of WhiteHorse Finance in the third quarter valued at $26,000. HUB Investment Partners LLC acquired a new stake in shares of WhiteHorse Finance in the third quarter valued at $75,000. Norden Group LLC acquired a new stake in shares of WhiteHorse Finance in the fourth quarter valued at $76,000. Oxford Asset Management LLP acquired a new stake in shares of WhiteHorse Finance in the second quarter valued at $105,000. Finally, Citadel Advisors LLC grew its stake in shares of WhiteHorse Finance by 190.8% in the third quarter. Citadel Advisors LLC now owns 21,418 shares of the investment management company’s stock valued at $148,000 after buying an additional 45,018 shares in the last quarter. 13.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WHF shares. Zacks Research raised WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, WhiteHorse Finance presently has an average rating of “Reduce” and a consensus price target of $7.75.

WhiteHorse Finance Stock Performance

Shares of WHF opened at $7.50 on Thursday. The stock has a 50-day simple moving average of $6.92 and a 200-day simple moving average of $7.03. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $166.73 million, a PE ratio of 12.10 and a beta of 0.41. WhiteHorse Finance, Inc. has a 1 year low of $6.07 and a 1 year high of $9.95.

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings data on Monday, March 2nd. The investment management company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. The business had revenue of $17.34 million during the quarter, compared to analysts’ expectations of $16.91 million. WhiteHorse Finance had a return on equity of 9.66% and a net margin of 19.73%. On average, analysts predict that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Stockholders of record on Thursday, March 12th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 13.3%. The ex-dividend date was Thursday, March 12th. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 161.29%.

Insider Activity

In related news, CEO Stuart D. Aronson acquired 8,000 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was acquired at an average price of $6.95 per share, for a total transaction of $55,600.00. Following the purchase, the chief executive officer owned 80,000 shares of the company’s stock, valued at $556,000. This represents a 11.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Bolduc acquired 8,392 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was bought at an average price of $7.12 per share, with a total value of $59,751.04. Following the purchase, the director directly owned 267,894 shares in the company, valued at approximately $1,907,405.28. This trade represents a 3.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 47,448 shares of company stock valued at $337,673 in the last quarter. Company insiders own 2.50% 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.