WhiteHorse Finance (NASDAQ:WHF) Cut to Strong Sell at Zacks Research

WhiteHorse Finance (NASDAQ:WHF) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. B. Riley decreased their target price on WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH raised WhiteHorse Finance to a “hold” rating in a report on Friday, August 8th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, WhiteHorse Finance has a consensus rating of “Strong Sell” and a consensus price target of $7.75.

WhiteHorse Finance Stock Performance

Shares of NASDAQ:WHF traded up $0.29 during midday trading on Thursday, hitting $7.04. The company’s stock had a trading volume of 142,990 shares, compared to its average volume of 102,248. The stock has a market capitalization of $163.63 million, a price-to-earnings ratio of 46.94 and a beta of 0.79. The stock’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $8.38. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.34 and a current ratio of 1.34. WhiteHorse Finance has a fifty-two week low of $6.39 and a fifty-two week high of $11.31.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Monday, November 10th. The investment management company reported $0.26 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 for the quarter, compared to analyst estimates of $18.43 million. As a group, research analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current year.

Insider Activity

In related news, Director John Bolduc purchased 14,200 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average price of $6.88 per share, with a total value of $97,696.00. Following the completion of the acquisition, the director directly owned 251,985 shares in the company, valued at approximately $1,733,656.80. This trade represents a 5.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stuart D. Aronson purchased 14,000 shares of the stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $6.92 per share, with a total value of $96,880.00. Following the transaction, the chief executive officer owned 50,000 shares in the company, valued at $346,000. This trade represents a 38.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders bought 42,300 shares of company stock worth $291,866. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On WhiteHorse Finance

Institutional investors and hedge funds have recently made changes to their positions in the company. Ethos Financial Group LLC acquired a new position in shares of WhiteHorse Finance in the first quarter valued at approximately $1,931,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in 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 worth $468,000 after purchasing an additional 5,715 shares during the period. Northstar Advisory Group LLC acquired a new stake in WhiteHorse Finance during the 2nd quarter worth approximately $87,000. Legal & General Group Plc increased its position 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 acquiring an additional 6,560 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of WhiteHorse Finance in the second quarter valued at approximately $368,000. Institutional investors and hedge funds own 13.20% of the company’s stock.

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.