WhiteHorse Finance Inc (NASDAQ:WHF) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 102,400 shares, a growth of 5.8% from the January 15th total of 96,800 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 125,300 shares, the days-to-cover ratio is presently 0.8 days.
WHF has been the topic of several research analyst reports. BidaskClub downgraded WhiteHorse Finance from a “hold” rating to a “sell” rating in a report on Thursday. B. Riley reiterated a “buy” rating and issued a $14.50 price objective on shares of WhiteHorse Finance in a report on Friday, December 6th. ValuEngine upgraded WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Monday, November 4th. National Securities upgraded WhiteHorse Finance from a “neutral” rating to a “buy” rating in a report on Monday, November 11th. Finally, Zacks Investment Research cut WhiteHorse Finance from a “hold” rating to a “sell” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. WhiteHorse Finance has an average rating of “Hold” and a consensus price target of $14.70.
In related news, major shareholder Sami Mnaymneh sold 2,250,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $13.83, for a total value of $31,117,500.00. Following the sale, the insider now owns 6,338 shares in the company, valued at approximately $87,654.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can acquired a new position in WhiteHorse Finance during the 4th quarter worth $48,000. Tower Research Capital LLC TRC grew its stake in WhiteHorse Finance by 2,894.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,301 shares of the investment management company’s stock worth $72,000 after purchasing an additional 5,124 shares in the last quarter. Citigroup Inc. grew its stake in WhiteHorse Finance by 361.1% during the 4th quarter. Citigroup Inc. now owns 8,300 shares of the investment management company’s stock worth $114,000 after purchasing an additional 6,500 shares in the last quarter. Guild Investment Management Inc. acquired a new position in WhiteHorse Finance during the 4th quarter worth $137,000. Finally, Stifel Financial Corp acquired a new position in WhiteHorse Finance during the 4th quarter worth $138,000. 16.12% of the stock is owned by hedge funds and other institutional investors.
WHF opened at $14.15 on Friday. WhiteHorse Finance has a 12 month low of $12.68 and a 12 month high of $15.00. The stock has a market capitalization of $288.06 million, a price-to-earnings ratio of 10.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 2.21. The business has a fifty day moving average price of $13.88 and a 200 day moving average price of $13.80.
About WhiteHorse Finance
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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