WhiteHorse Finance (NASDAQ:WHF) Stock Passes Below Two Hundred Day Moving Average – Time to Sell?

WhiteHorse Finance, Inc. (NASDAQ:WHF)’s stock price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.35 and traded as low as $6.15. WhiteHorse Finance shares last traded at $6.21, with a volume of 179,999 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WHF shares. Zacks Research raised shares of WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, January 21st. Three equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $7.75.

WhiteHorse Finance Stock Performance

The company has a market capitalization of $144.32 million, a PE ratio of 14.44 and a beta of 0.56. The stock’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $7.35. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.80 and a current ratio of 1.80.

Insiders Place Their Bets

In other WhiteHorse Finance news, Director John Bolduc acquired 14,200 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were acquired at an average price of $7.00 per share, for a total transaction of $99,400.00. Following the completion of the acquisition, the director directly owned 259,085 shares of the company’s stock, valued at $1,813,595. This trade represents a 5.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Joyson Thomas acquired 4,502 shares of the stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average cost of $7.01 per share, with a total value of $31,559.02. Following the transaction, the chief financial officer owned 22,001 shares of the company’s stock, valued at approximately $154,227.01. This trade represents a 25.73% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 44,676 shares of company stock valued at $310,287 in the last quarter. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Ethos Financial Group LLC boosted its position 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 worth $1,793,000 after acquiring an additional 5,616 shares during the last quarter. Legal & General Group Plc raised its stake in 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 during the period. Marshall Wace LLP purchased a new position in WhiteHorse Finance during the second quarter worth approximately $368,000. Bank of America Corp DE boosted its holdings in shares of WhiteHorse Finance by 92.0% in the 2nd quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after purchasing an additional 88,659 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in shares of WhiteHorse Finance during the 2nd quarter valued at $105,000. Institutional investors and hedge funds own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.