Key Points
- CEO Stuart Aronson purchased 10,000 shares at $6.90 each on Dec. 22 for $69,000, boosting his stake to 60,000 shares (a 20% increase), as disclosed in an SEC filing.
- The company declared a quarterly dividend of $0.25 ($1.00 annual) yielding 14.7%, but the dividend payout ratio is an unsustainably high 232.56%.
- WHF shares are down (opened $6.78) after a recent quarterly earnings miss, and analysts have a consensus rating of "Reduce" with a $7.75 target amid mixed sell/hold recommendations.
WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) CEO Stuart Aronson bought 7,000 shares of the business's stock in a transaction that occurred on Tuesday, December 23rd. The shares were acquired at an average price of $6.80 per share, with a total value of $47,600.00. Following the transaction, the chief executive officer directly owned 67,000 shares of the company's stock, valued at $455,600. This represents a 11.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
WhiteHorse Finance Trading Down 2.3%
Shares of WHF opened at $6.78 on Wednesday. The firm has a market cap of $157.59 million, a P/E ratio of 15.77 and a beta of 0.56. WhiteHorse Finance, Inc. has a 1 year low of $6.39 and a 1 year high of $11.31. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.80 and a quick ratio of 1.80. The company has a 50 day simple moving average of $7.20 and a two-hundred day simple moving average of $8.01.
WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly earnings data on Monday, November 10th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.29 by ($0.03). WhiteHorse Finance had a net margin of 12.91% and a return on equity of 9.93%. The firm had revenue of $17.69 million for the quarter, compared to analysts' expectations of $18.43 million. On average, equities analysts expect that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.
WhiteHorse Finance Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Shareholders of record on Monday, December 22nd will be given a dividend of $0.25 per share. The ex-dividend date is Monday, December 22nd. This represents a $1.00 annualized dividend and a yield of 14.7%. WhiteHorse Finance's dividend payout ratio (DPR) is 232.56%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on WHF. Zacks Research upgraded shares of WhiteHorse Finance from a "strong sell" rating to a "hold" rating in a research report on Friday, December 12th. Weiss Ratings restated a "sell (d+)" rating on shares of WhiteHorse Finance in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on WhiteHorse Finance from $8.00 to $6.50 and set an "underweight" rating for the company in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus price target of $7.75.
Check Out Our Latest Analysis on WhiteHorse Finance
Institutional Trading of WhiteHorse Finance
A number of hedge funds and other institutional investors have recently bought and sold shares of WHF. Bank of America Corp DE grew its holdings in shares of WhiteHorse Finance by 92.0% in the second quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company's stock worth $1,613,000 after purchasing an additional 88,659 shares during the last quarter. Two Sigma Investments LP grew its stake in WhiteHorse Finance by 27.5% in the third quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company's stock worth $1,599,000 after purchasing an additional 49,893 shares in the last quarter. Citadel Advisors LLC grew its position in shares of WhiteHorse Finance by 190.8% during the 3rd quarter. Citadel Advisors LLC now owns 21,418 shares of the investment management company's stock worth $148,000 after buying an additional 45,018 shares in the last quarter. Marshall Wace LLP bought a new position in WhiteHorse Finance during the 2nd quarter worth about $368,000. Finally, Ethos Financial Group LLC boosted its stake in shares of WhiteHorse Finance by 8.2% during the third quarter. Ethos Financial Group LLC now owns 222,454 shares of the investment management company's stock valued at $1,539,000 after purchasing an additional 16,781 shares in the last quarter. Hedge funds and other institutional investors own 13.20% of the company's stock.
About WhiteHorse Finance
(
Get Free Report)
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.
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