WhiteHorse Finance (WHF) Lowered to “Strong Sell” at Zacks Investment Research

WhiteHorse Finance (NASDAQ:WHF) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Saturday.

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. “

WHF has been the topic of several other reports. Ladenburg Thalmann Financial Services started coverage on WhiteHorse Finance in a research report on Tuesday, December 19th. They set a “neutral” rating on the stock. BidaskClub lowered WhiteHorse Finance from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Oppenheimer started coverage on WhiteHorse Finance in a research report on Thursday, November 30th. They issued a “buy” rating and a $15.00 target price on the stock. JPMorgan Chase & Co. lowered WhiteHorse Finance from a “neutral” rating to an “underweight” rating in a research report on Tuesday. Finally, ValuEngine lowered WhiteHorse Finance from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. WhiteHorse Finance currently has a consensus rating of “Hold” and an average price target of $15.00.

WhiteHorse Finance (WHF) traded down $0.01 during trading hours on Friday, reaching $12.14. The company had a trading volume of 88,086 shares, compared to its average volume of 56,518. The firm has a market capitalization of $249.05, a price-to-earnings ratio of 6.53 and a beta of 0.66. WhiteHorse Finance has a 52-week low of $12.02 and a 52-week high of $15.05. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 0.64.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.04). The business had revenue of $13.02 million for the quarter, compared to analyst estimates of $12.94 million. WhiteHorse Finance had a net margin of 64.58% and a return on equity of 9.69%. sell-side analysts anticipate that WhiteHorse Finance will post 1.32 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its position in WhiteHorse Finance by 18.3% in the 4th quarter. BlackRock Inc. now owns 57,216 shares of the investment management company’s stock worth $768,000 after purchasing an additional 8,848 shares during the last quarter. Eqis Capital Management Inc. acquired a new position in WhiteHorse Finance in the 4th quarter worth about $138,000. Susquehanna International Group LLP acquired a new position in WhiteHorse Finance in the 3rd quarter worth about $174,000. JPMorgan Chase & Co. increased its position in WhiteHorse Finance by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,944 shares of the investment management company’s stock worth $295,000 after purchasing an additional 5,664 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in shares of WhiteHorse Finance during the 3rd quarter valued at about $539,000. 9.27% of the stock is currently owned by institutional investors.

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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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