WhiteHorse Finance Inc. (WHF) Lifted to “Hold” at Zacks Investment Research
WhiteHorse Finance Inc. (NASDAQ:WHF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “WhiteHorse Finance, Inc. is a business development company focused on originating loans to privately held small-cap companies across a broad range of industries. WhiteHorse Finance, Inc. is based in Miami, United States. “
Several other brokerages have also recently commented on WHF. TheStreet upgraded shares of WhiteHorse Finance from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Citigroup Inc. lifted their price objective on shares of WhiteHorse Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday, September 14th. Deutsche Bank AG set a $13.50 price objective on shares of WhiteHorse Finance and gave the stock a “buy” rating in a research note on Thursday, August 11th. Finally, Robert W. Baird lowered shares of WhiteHorse Finance from an “outperform” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. WhiteHorse Finance has an average rating of “Buy” and a consensus price target of $12.40.
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WhiteHorse Finance (NASDAQ:WHF) traded up 0.67% during mid-day trading on Wednesday, reaching $10.57. 9,060 shares of the company’s stock traded hands. WhiteHorse Finance has a 52-week low of $9.14 and a 52-week high of $13.68. The company has a 50-day moving average of $11.28 and a 200-day moving average of $10.88.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Friday, August 5th. The investment management company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. WhiteHorse Finance had a net margin of 0.62% and a return on equity of 8.50%. Analysts predict that WhiteHorse Finance will post $1.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 13.52%. The ex-dividend date of this dividend was Thursday, September 15th. WhiteHorse Finance’s payout ratio is currently -1,014.21%.
A number of hedge funds and other institutional investors have recently made changes to their positions in WHF. Baird Financial Group Inc. raised its position in shares of WhiteHorse Finance by 4.9% in the second quarter. Baird Financial Group Inc. now owns 25,554 shares of the investment management company’s stock worth $276,000 after buying an additional 1,203 shares during the last quarter. Nuveen Fund Advisors LLC bought a new position in shares of WhiteHorse Finance during the second quarter worth $393,000. Orinda Asset Management LLC bought a new position in shares of WhiteHorse Finance during the second quarter worth $655,000. Finally, Nantahala Capital Management LLC raised its position in shares of WhiteHorse Finance by 18.8% in the first quarter. Nantahala Capital Management LLC now owns 235,669 shares of the investment management company’s stock worth $2,446,000 after buying an additional 37,347 shares during the last quarter. 10.64% of the stock is currently owned by hedge funds and other institutional investors.
WhiteHorse Finance Company Profile
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.
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