WhiteHorse Finance (NASDAQ:WHF) Downgraded to Sell at BidaskClub

Share on StockTwits

WhiteHorse Finance (NASDAQ:WHF) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday, July 30th, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of WhiteHorse Finance from a “buy” rating to a “hold” rating in a report on Saturday, July 20th. Raymond James initiated coverage on shares of WhiteHorse Finance in a report on Tuesday, June 18th. They set an “outperform” rating and a $16.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. WhiteHorse Finance presently has a consensus rating of “Hold” and a consensus price target of $14.63.

Shares of WhiteHorse Finance stock opened at $12.77 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $269.98 million, a price-to-earnings ratio of 8.51 and a beta of 0.60. The firm’s 50-day moving average is $13.82 and its 200 day moving average is $14.10. WhiteHorse Finance has a 1 year low of $11.89 and a 1 year high of $15.00.

WhiteHorse Finance (NASDAQ:WHF) last posted its earnings results on Wednesday, August 7th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.37. WhiteHorse Finance had a net margin of 62.01% and a return on equity of 9.61%. The business had revenue of $15.98 million for the quarter, compared to analysts’ expectations of $16.08 million. On average, equities analysts expect that WhiteHorse Finance will post 1.44 EPS for the current fiscal year.

In other WhiteHorse Finance news, Director Kevin Francis Burke bought 3,000 shares of WhiteHorse Finance stock in a transaction on Monday, June 17th. The shares were acquired at an average price of $14.00 per share, for a total transaction of $42,000.00. Following the completion of the purchase, the director now directly owns 7,530 shares in the company, valued at approximately $105,420. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Anthony Tamer sold 2,350,000 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $14.00, for a total value of $32,900,000.00. Following the completion of the sale, the insider now owns 6,026 shares in the company, valued at approximately $84,364. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Advantage Investment Management LLC grew its stake in WhiteHorse Finance by 9.1% in the second quarter. Advantage Investment Management LLC now owns 19,890 shares of the investment management company’s stock valued at $273,000 after purchasing an additional 1,653 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in WhiteHorse Finance by 13.3% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,195 shares of the investment management company’s stock valued at $230,000 after purchasing an additional 1,907 shares during the last quarter. Citigroup Inc. grew its stake in WhiteHorse Finance by 164.4% in the fourth quarter. Citigroup Inc. now owns 4,760 shares of the investment management company’s stock valued at $61,000 after purchasing an additional 2,960 shares during the last quarter. Advisor Group Inc. grew its stake in WhiteHorse Finance by 34.6% in the second quarter. Advisor Group Inc. now owns 14,134 shares of the investment management company’s stock valued at $195,000 after purchasing an additional 3,630 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in WhiteHorse Finance in the second quarter valued at about $69,000. Hedge funds and other institutional investors own 11.94% of the company’s stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.

Read More: What is the Gross Domestic Product (GDP)?

Analyst Recommendations for WhiteHorse Finance (NASDAQ:WHF)

Receive News & Ratings for WhiteHorse Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WhiteHorse Finance and related companies with MarketBeat.com's FREE daily email newsletter.