Key Points
- CEO Stuart Aronson bought 20,000 WhiteHorse Finance shares at $6.67 each, totaling $133,400. After the purchase, he owned 100,000 shares, a 25% increase in his position.
- WhiteHorse Finance recently reported weaker-than-expected quarterly results, posting EPS of $0.26 versus the $0.28 estimate and revenue of $15.90 million versus $16.35 million expected.
- The company declared a quarterly dividend of $0.25 per share, implying a 15.1% annualized yield, though the payout ratio is high at 243.90%.
WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) CFO Joyson Thomas acquired 3,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average price of $6.62 per share, with a total value of $19,860.00. Following the acquisition, the chief financial officer directly owned 25,001 shares of the company's stock, valued at approximately $165,506.62. This represents a 13.64% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
WhiteHorse Finance Trading Up 0.6%
Shares of WHF stock opened at $6.62 on Wednesday. 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 has a market capitalization of $143.06 million, a P/E ratio of 16.15 and a beta of 0.41. The company has a 50 day moving average price of $7.36 and a 200 day moving average price of $7.11. WhiteHorse Finance, Inc. has a fifty-two week low of $6.07 and a fifty-two week high of $9.66.
WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.02). The business had revenue of $15.90 million during the quarter, compared to analyst estimates of $16.35 million. WhiteHorse Finance had a net margin of 13.46% and a return on equity of 9.47%. Equities research analysts predict that WhiteHorse Finance, Inc. will post 1.03 EPS for the current fiscal year.
WhiteHorse Finance Dividend Announcement
The company also recently declared 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 15.1%. The ex-dividend date is Thursday, May 21st. WhiteHorse Finance's payout ratio is 243.90%.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded shares of WhiteHorse Finance from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $7.75.
Get Our Latest Report on WhiteHorse Finance
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new position in WhiteHorse Finance during the 3rd quarter worth approximately $26,000. Kestra Advisory Services LLC acquired a new position in WhiteHorse Finance during the 4th quarter worth approximately $44,000. HUB Investment Partners LLC acquired a new position in WhiteHorse Finance during the 3rd quarter worth approximately $75,000. Norden Group LLC acquired a new position in WhiteHorse Finance during the 4th quarter worth approximately $76,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in WhiteHorse Finance during the 4th quarter worth approximately $88,000. Institutional investors and hedge funds 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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