WhiteHorse Finance (NASDAQ:WHF) CEO Buys $47,600.00 in Stock

by · The Markets Daily

WhiteHorse Finance, Inc. (NASDAQ:WHFGet Free Report) CEO Stuart Aronson purchased 7,000 shares of WhiteHorse Finance stock in a transaction on Tuesday, December 23rd. The shares were acquired at an average cost of $6.80 per share, for a total transaction of $47,600.00. Following the completion of the transaction, the chief executive officer owned 67,000 shares of the company’s stock, valued at $455,600. This represents a 11.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

WhiteHorse Finance Stock Down 2.3%

WHF stock traded down $0.16 during trading on Tuesday, reaching $6.78. The stock had a trading volume of 450,281 shares, compared to its average volume of 213,261. WhiteHorse Finance, Inc. has a 1-year low of $6.39 and a 1-year high of $11.31. The firm has a fifty day moving average price of $7.20 and a 200 day moving average price of $8.01. 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 company has a market capitalization of $157.57 million, a P/E ratio of 15.77 and a beta of 0.56.

WhiteHorse Finance (NASDAQ:WHFGet Free Report) last posted its quarterly 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 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, equities analysts anticipate that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current year.

WhiteHorse Finance Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.7%. The ex-dividend date of this dividend is Monday, December 22nd. WhiteHorse Finance’s payout ratio is currently 232.56%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WHF. Advisory Services Network LLC bought a new position in shares of WhiteHorse Finance during the 3rd quarter worth about $26,000. HUB Investment Partners LLC bought a new stake in shares of WhiteHorse Finance in the 3rd quarter valued at approximately $75,000. Northstar Advisory Group LLC acquired a new position in shares of WhiteHorse Finance in the 2nd quarter worth approximately $87,000. Oxford Asset Management LLP bought a new position in shares of WhiteHorse Finance during the 2nd quarter worth approximately $105,000. Finally, Citadel Advisors LLC grew its position in 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 acquiring an additional 45,018 shares during the period. 13.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WHF has been the subject of a number of analyst reports. Zacks Research upgraded WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research report on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their target price on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating for the company in a research report 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. Based on data from MarketBeat, WhiteHorse Finance presently has an average rating of “Reduce” and an average target price of $7.75.

View Our Latest Stock Analysis on WHF

About WhiteHorse Finance

(Get Free Report)

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.

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