WhiteHorse Finance Inc. (NASDAQ:WHF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “WhiteHorse Finance, Inc. is a business development company focused on originating loans to privately held small-cap companies across a broad range of industries. WhiteHorse Finance, Inc. is based in Miami, United States. “
WHF has been the subject of several other reports. Robert W. Baird downgraded WhiteHorse Finance from an “outperform” rating to a “neutral” rating and set a $12.00 target price for the company. in a research report on Tuesday, August 9th. Deutsche Bank AG set a $13.50 price objective on WhiteHorse Finance and gave the stock a “buy” rating in a research report on Thursday, August 11th. Citigroup Inc. boosted their price objective on WhiteHorse Finance from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, September 14th. Finally, TheStreet raised WhiteHorse Finance from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $12.40.
WhiteHorse Finance (NASDAQ:WHF) opened at 10.67 on Wednesday. The firm’s 50-day moving average is $11.22 and its 200-day moving average is $10.88. WhiteHorse Finance has a 52-week low of $9.14 and a 52-week high of $13.68.
WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Friday, August 5th. The investment management company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. WhiteHorse Finance had a return on equity of 8.50% and a net margin of 0.62%. Equities analysts anticipate that WhiteHorse Finance will post $1.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 19th were issued a $0.355 dividend. This represents a $1.42 dividend on an annualized basis and a yield of 13.31%. The ex-dividend date of this dividend was Thursday, September 15th. WhiteHorse Finance’s dividend payout ratio (DPR) is -1,014.21%.
A number of large investors have recently modified their holdings of WHF. Orinda Asset Management LLC purchased a new stake in shares of WhiteHorse Finance during the second quarter worth $655,000. Nantahala Capital Management LLC boosted its stake in shares of WhiteHorse Finance by 18.8% in the first quarter. Nantahala Capital Management LLC now owns 235,669 shares of the investment management company’s stock worth $2,446,000 after buying an additional 37,347 shares in the last quarter. Nuveen Fund Advisors LLC purchased a new stake in shares of WhiteHorse Finance during the second quarter worth $393,000. Finally, Baird Financial Group Inc. boosted its stake in shares of WhiteHorse Finance by 4.9% in the second quarter. Baird Financial Group Inc. now owns 25,554 shares of the investment management company’s stock worth $276,000 after buying an additional 1,203 shares in the last quarter. Institutional investors own 10.64% of the company’s stock.
About WhiteHorse Finance
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.