Key Points
- CEO Stuart Aronson bought 15,000 WhiteHorse Finance shares at $6.41 each, spending $96,150 and increasing his direct ownership by 13.39% to 127,000 shares.
- WhiteHorse Finance recently reported mixed quarterly results, posting EPS of $0.26 versus the $0.28 estimate and revenue of $15.9 million versus expectations of $16.35 million.
- The company declared a quarterly dividend of $0.25 per share, implying a very high 15.7% annualized yield, while Weiss Ratings downgraded the stock to sell and analysts currently rate it a consensus Reduce.
WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) CEO Stuart Aronson purchased 15,000 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average price of $6.41 per share, for a total transaction of $96,150.00. Following the purchase, the chief executive officer directly owned 127,000 shares in the company, valued at $814,070. The trade was a 13.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
WhiteHorse Finance Stock Performance
WhiteHorse Finance stock opened at $6.36 on Wednesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $137.44 million, a P/E ratio of 15.51 and a beta of 0.37. The stock's 50 day moving average is $7.19 and its 200 day moving average is $7.07. WhiteHorse Finance, Inc. has a twelve month low of $6.07 and a twelve month high of $9.66.
WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $15.90 million during the quarter, compared to analysts' expectations of $16.35 million. WhiteHorse Finance had a return on equity of 9.47% and a net margin of 13.46%. On average, equities research analysts predict that WhiteHorse Finance, Inc. will post 1.03 earnings per share for the current fiscal year.
WhiteHorse Finance Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Thursday, May 21st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 15.7%. The ex-dividend date is Thursday, May 21st. WhiteHorse Finance's dividend payout ratio (DPR) is currently 243.90%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded WhiteHorse Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $7.75.
Read Our Latest Stock Report on WhiteHorse Finance
Institutional Trading of WhiteHorse Finance
Several institutional investors have recently added to or reduced their stakes in the business. HRT Financial LP boosted its stake in WhiteHorse Finance by 16.5% during the 4th quarter. HRT Financial LP now owns 19,922 shares of the investment management company's stock valued at $138,000 after purchasing an additional 2,815 shares during the last quarter. Advisory Services Network LLC purchased a new stake in WhiteHorse Finance during the 3rd quarter valued at $26,000. Osaic Holdings Inc. boosted its stake in WhiteHorse Finance by 43.7% during the 4th quarter. Osaic Holdings Inc. now owns 18,634 shares of the investment management company's stock valued at $130,000 after purchasing an additional 5,665 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of WhiteHorse Finance during the 4th quarter valued at $44,000. Finally, CANADA LIFE ASSURANCE Co lifted its holdings in shares of WhiteHorse Finance by 35.9% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 24,457 shares of the investment management company's stock valued at $169,000 after buying an additional 6,460 shares during the period. 13.20% of the stock is currently owned by hedge funds and other institutional investors.
WhiteHorse Finance Company Profile
(
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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