Advisors Asset Management Inc. Decreases Position in WhiteHorse Finance, Inc. $WHF

Advisors Asset Management Inc. reduced its stake in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) by 57.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,858 shares of the investment management company’s stock after selling 94,117 shares during the quarter. Advisors Asset Management Inc.’s holdings in WhiteHorse Finance were worth $609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northstar Advisory Group LLC purchased a new position in WhiteHorse Finance in the 2nd quarter worth approximately $87,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of WhiteHorse Finance by 13.4% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock valued at $468,000 after purchasing an additional 5,715 shares during the period. Legal & General Group Plc lifted its position in shares of WhiteHorse Finance by 4.4% during the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after purchasing an additional 6,560 shares in the last quarter. Finally, Ethos Financial Group LLC boosted its stake in shares of WhiteHorse Finance by 2.8% in the second quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock valued at $1,793,000 after purchasing an additional 5,616 shares during the period. 13.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WhiteHorse Finance

In related news, Director John Bolduc bought 14,200 shares of the stock in a transaction dated Friday, November 14th. The stock was bought at an average cost of $6.88 per share, with a total value of $97,696.00. Following the completion of the acquisition, the director owned 251,985 shares of the company’s stock, valued at $1,733,656.80. This trade represents a 5.97% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stuart D. Aronson purchased 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $6.92 per share, for a total transaction of $96,880.00. Following the acquisition, the chief executive officer owned 50,000 shares in the company, valued at approximately $346,000. The trade was a 38.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 43,300 shares of company stock valued at $298,816 over the last ninety days. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WHF. Zacks Research downgraded shares of WhiteHorse Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. LADENBURG THALM/SH SH raised WhiteHorse Finance to a “hold” rating in a research report on Friday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lowered their price objective on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating for the company in a research note on Wednesday, October 1st. Finally, B. Riley dropped their price objective on WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating on the stock in a report on Wednesday, August 13th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Strong Sell” and a consensus price target of $7.75.

WhiteHorse Finance Stock Performance

WhiteHorse Finance stock opened at $7.38 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.34 and a quick ratio of 1.34. WhiteHorse Finance, Inc. has a 12 month low of $6.39 and a 12 month high of $11.31. The company has a fifty day moving average price of $7.05 and a two-hundred day moving average price of $8.18. The company has a market cap of $171.53 million, a PE ratio of 49.20 and a beta of 0.56.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Monday, November 10th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%.The business had revenue of $17.69 million during the quarter, compared to the consensus estimate of $18.43 million. Research analysts expect that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current year.

WhiteHorse Finance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date is Monday, December 22nd. WhiteHorse Finance’s payout ratio is presently 232.56%.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.