WhiteHorse Finance Inc. (WHF) Stock Rating Upgraded by 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. “
Other equities research analysts have also issued research reports about the company. TheStreet raised WhiteHorse Finance from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Citigroup Inc. lifted their price objective on WhiteHorse Finance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Deutsche Bank AG set a $13.50 price objective on WhiteHorse Finance and gave the company a “buy” rating in a research note on Thursday, August 11th. Finally, Robert W. Baird lowered WhiteHorse Finance from an “outperform” rating to a “neutral” rating and set a $12.00 price objective for the company. in a research note on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. WhiteHorse Finance has an average rating of “Buy” and a consensus target price of $12.40.
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Shares of WhiteHorse Finance (NASDAQ:WHF) traded up 0.76% during midday trading on Wednesday, hitting $10.58. The stock had a trading volume of 28,651 shares. WhiteHorse Finance has a 1-year low of $9.14 and a 1-year high of $13.68. The firm’s 50-day moving average price is $11.28 and its 200-day moving average price is $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 (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. WhiteHorse Finance had a return on equity of 8.50% and a net margin of 0.62%. On average, equities analysts expect that WhiteHorse Finance will post $1.41 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 13.42%. The ex-dividend date was Thursday, September 15th. WhiteHorse Finance’s dividend payout ratio (DPR) is currently -1,014.21%.
A number of large investors have recently modified their holdings of the company. Orinda Asset Management LLC bought a new position in WhiteHorse Finance during the second quarter valued at approximately $655,000. Nantahala Capital Management LLC increased its position in 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 valued at $2,446,000 after buying an additional 37,347 shares in the last quarter. Nuveen Fund Advisors LLC bought a new position in WhiteHorse Finance during the second quarter valued at approximately $393,000. Finally, Baird Financial Group Inc. increased its position in 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 valued at $276,000 after buying an additional 1,203 shares in the last quarter. 10.64% of the stock is 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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