WhiteHorse Finance (NASDAQ:WHF) Shares Break Above 200-Day Moving Average – Here’s What Happened

WhiteHorse Finance, Inc. (NASDAQ:WHF) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $6.99 and traded as high as $7.00. WhiteHorse Finance shares last traded at $6.86, with a volume of 76,764 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of WhiteHorse Finance in a research report on Friday, August 28th. B. Riley Financial lifted their price target on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. upped their price target on WhiteHorse Finance from $6.00 to $6.50 and gave the stock an “underweight” rating in a research note on Wednesday, August 19th. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, WhiteHorse Finance presently has an average rating of “Reduce” and an average price target of $7.25.

WhiteHorse Finance Stock Performance

The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.29. The company has a market capitalization of $149.93 million, a PE ratio of 8.84 and a beta of 0.39. The company has a 50-day moving average price of $6.97 and a two-hundred day moving average price of $6.99.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Monday, August 10th. The investment management company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The company had revenue of $14.37 million for the quarter, compared to the consensus estimate of $15.66 million. WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. Analysts predict that WhiteHorse Finance, Inc. will post 0.97 EPS for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 21st will be issued a $0.25 dividend. The ex-dividend date is Monday, September 21st. This represents a $1.00 dividend on an annualized basis and a yield of 14.3%. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 126.58%.

Institutional Investors Weigh In On WhiteHorse Finance

A number of hedge funds and other institutional investors have recently modified their holdings of WHF. NewEdge Wealth LLC purchased a new position in WhiteHorse Finance in the second quarter valued at about $117,000. Closed End Fund Advisors Inc. acquired a new position in shares of WhiteHorse Finance in the 4th quarter valued at $286,000. Gables Capital Management Inc. acquired a new position in WhiteHorse Finance in the 2nd quarter worth about $294,000. BlackRock Inc. acquired a new stake in WhiteHorse Finance in the 2nd quarter worth $477,000. Finally, Legal & General Group Plc bought a new position in WhiteHorse Finance in the 2nd quarter valued at $1,172,000. 13.20% of the stock is currently owned by institutional investors and hedge funds.

About WhiteHorse Finance

WhiteHorse Finance, Inc (NASDAQ: WHF) is a business development company that provides financing to privately owned, primarily middle-market companies. The company invests in businesses across a range of industries, with an emphasis on generating current income and, to a lesser extent, long-term capital appreciation.

WhiteHorse Finance’s investment portfolio generally consists of senior secured loans, subordinated debt and other structured investments. It may also make equity investments in portfolio companies.