Insider Buying: WhiteHorse Finance (NASDAQ:WHF) Director Acquires $99,816.20 in Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc acquired 15,380 shares of the stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $6.49 per share, with a total value of $99,816.20. Following the transaction, the director directly owned 317,297 shares of the company’s stock, valued at $2,059,257.53. The trade was a 5.09% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

John Bolduc also recently made the following trade(s):

• On Friday, June 5th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The stock was bought at an average cost of $6.76 per share, with a total value of $48,266.40.
• On Monday, June 1st, John Bolduc purchased 7,140 shares of WhiteHorse Finance stock. The stock was bought at an average price of $6.88 per share, with a total value of $49,123.20.
• On Friday, May 29th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $6.76 per share, for a total transaction of $48,266.40.
• On Wednesday, May 27th, John Bolduc bought 7,140 shares of WhiteHorse Finance stock. The stock was purchased at an average price of $6.90 per share, with a total value of $49,266.00.

WhiteHorse Finance Stock Performance

WHF opened at $6.45 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.23 and a current ratio of 2.23. The stock’s 50 day moving average price is $7.12 and its 200-day moving average price is $7.05. WhiteHorse Finance, Inc. has a one year low of $6.07 and a one year high of $9.28. The stock has a market cap of $139.38 million, a price-to-earnings ratio of 15.73 and a beta of 0.37.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Thursday, May 7th. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $15.90 million during the quarter, compared to analysts’ expectations of $16.35 million. WhiteHorse Finance had a return on equity of 9.47% and a net margin of 13.46%. On average, equities analysts forecast that WhiteHorse Finance, Inc. will post 1.03 EPS for the current year.

WhiteHorse Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 15.5%. The ex-dividend date is Thursday, May 21st. WhiteHorse Finance’s dividend payout ratio is presently 243.90%.

Institutional Investors Weigh In On WhiteHorse Finance

Large investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new position in shares of WhiteHorse Finance in the 3rd quarter valued at approximately $26,000. Kestra Advisory Services LLC acquired a new position in shares of WhiteHorse Finance in the fourth quarter valued at about $44,000. HUB Investment Partners LLC purchased a new position in shares of WhiteHorse Finance in the third quarter worth about $75,000. Norden Group LLC purchased a new position in shares of WhiteHorse Finance in the fourth quarter worth about $76,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in shares of WhiteHorse Finance in the fourth quarter worth about $88,000. Hedge funds and other institutional investors own 13.20% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $7.75.

WhiteHorse Finance Company Profile

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.