WhiteHorse Finance Inc (NASDAQ:WHF) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totalling 37,100 shares, a decline of 73.4% from the May 30th total of 139,300 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average trading volume of 77,100 shares, the days-to-cover ratio is currently 0.5 days.
In related news, major shareholder Anthony Tamer sold 2,350,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $14.00, for a total transaction of $32,900,000.00. Following the completion of the transaction, the insider now owns 6,026 shares in the company, valued at approximately $84,364. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Francis Burke acquired 3,000 shares of WhiteHorse Finance stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average price of $14.00 per share, with a total value of $42,000.00. Following the purchase, the director now owns 7,530 shares in the company, valued at $105,420. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Mid Atlantic Financial Management Inc. ADV boosted its holdings in shares of WhiteHorse Finance by 13.3% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,195 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 1,907 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of WhiteHorse Finance by 164.4% in the 4th quarter. Citigroup Inc. now owns 4,760 shares of the investment management company’s stock valued at $61,000 after acquiring an additional 2,960 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of WhiteHorse Finance by 12.0% in the 4th quarter. Legal & General Group Plc now owns 89,166 shares of the investment management company’s stock valued at $1,139,000 after acquiring an additional 9,546 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of WhiteHorse Finance by 588.5% in the 4th quarter. Advisor Group Inc. now owns 13,164 shares of the investment management company’s stock valued at $167,000 after acquiring an additional 11,252 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of WhiteHorse Finance in the 1st quarter valued at $409,000. 11.40% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:WHF traded up $0.06 during trading hours on Thursday, hitting $14.09. 45,716 shares of the company were exchanged, compared to its average volume of 64,653. The stock has a market cap of $289.29 million, a PE ratio of 9.39 and a beta of 0.61. WhiteHorse Finance has a 52-week low of $11.89 and a 52-week high of $15.30. 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 company’s 50 day moving average is $14.13.
WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Wednesday, May 8th. The investment management company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $15.92 million for the quarter, compared to the consensus estimate of $15.46 million. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. As a group, equities research analysts predict that WhiteHorse Finance will post 1.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th were issued a $0.355 dividend. This represents a $1.42 annualized dividend and a dividend yield of 10.08%. The ex-dividend date of this dividend was Wednesday, June 19th. WhiteHorse Finance’s dividend payout ratio (DPR) is currently 94.67%.
WHF has been the topic of several research analyst reports. Raymond James set a C$80.00 target price on shares of West Fraser Timber and gave the stock a “strong-buy” rating in a research report on Tuesday, June 18th. BidaskClub raised shares of Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. WhiteHorse Finance currently has an average rating of “Hold” and an average target price of $14.63.
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.
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