WhiteHorse Finance Inc (NASDAQ:WHF) was the target of a large increase in short interest in May. As of May 31st, there was short interest totalling 180,300 shares, an increase of 157.9% from the April 30th total of 69,900 shares. Based on an average trading volume of 51,600 shares, the short-interest ratio is currently 3.5 days. Approximately 2.2% of the company’s stock are sold short.
Several equities analysts have recently commented on the stock. BidaskClub cut shares of WhiteHorse Finance from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Zacks Investment Research upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. WhiteHorse Finance presently has an average rating of “Hold” and an average price target of $14.17.
Several institutional investors have recently bought and sold shares of the company. Marshall Wace LLP acquired a new stake in shares of WhiteHorse Finance during the first quarter worth $1,241,000. Acadian Asset Management LLC acquired a new position in WhiteHorse Finance in the first quarter valued at $409,000. Mid Atlantic Financial Management Inc. ADV boosted its holdings in WhiteHorse Finance by 13.3% in the first 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. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in WhiteHorse Finance by 97.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock valued at $881,000 after acquiring an additional 30,609 shares during the last quarter. Finally, Tradition Capital Management LLC acquired a new position in WhiteHorse Finance in the first quarter valued at $943,000. Institutional investors and hedge funds own 11.40% of the company’s stock.
Shares of WhiteHorse Finance stock traded up $0.03 on Monday, hitting $14.00. 4,017 shares of the company traded hands, compared to its average volume of 105,893. The stock’s 50-day moving average is $14.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.51 and a current ratio of 1.51. WhiteHorse Finance has a 12-month low of $11.89 and a 12-month high of $15.48. The company has a market cap of $287.03 million, a P/E ratio of 9.36 and a beta of 0.68.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. The business had revenue of $15.92 million for the quarter, compared to analysts’ expectations of $15.46 million. Equities analysts expect that WhiteHorse Finance will post 1.49 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Stockholders of record on Thursday, June 20th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 10.14%. The ex-dividend date of this dividend is Wednesday, June 19th. WhiteHorse Finance’s dividend payout ratio is currently 94.67%.
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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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