Sound Income Strategies LLC Decreases Position in WhiteHorse Finance, Inc. $WHF

Sound Income Strategies LLC decreased its position in WhiteHorse Finance, Inc. (NASDAQ:WHF) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 857,976 shares of the investment management company’s stock after selling 84,090 shares during the period. Sound Income Strategies LLC owned about 3.69% of WhiteHorse Finance worth $5,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of WHF. Northstar Advisory Group LLC bought a new stake in shares of WhiteHorse Finance in the second quarter valued at $87,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in WhiteHorse Finance by 13.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock valued at $468,000 after acquiring an additional 5,715 shares during the period. Legal & General Group Plc increased its stake in shares of WhiteHorse Finance by 4.4% in the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after purchasing an additional 6,560 shares in the last quarter. Marshall Wace LLP bought a new position in WhiteHorse Finance in the 2nd quarter worth approximately $368,000. Finally, Bank of America Corp DE lifted its position in shares of WhiteHorse Finance by 92.0% during 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 acquiring an additional 88,659 shares in the last quarter. 13.20% of the stock is owned by institutional investors.

WhiteHorse Finance Stock Performance

NASDAQ WHF opened at $7.19 on Friday. The company has a fifty day moving average of $7.19 and a 200-day moving average of $8.04. WhiteHorse Finance, Inc. has a 52-week low of $6.39 and a 52-week high of $11.31. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.80 and a current ratio of 1.80. The company has a market capitalization of $167.12 million, a P/E ratio of 16.72 and a beta of 0.56.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Monday, November 10th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The firm had revenue of $17.69 million during the quarter, compared to analysts’ expectations of $18.43 million. WhiteHorse Finance had a return on equity of 9.93% and a net margin of 12.91%. As a group, equities research analysts predict that WhiteHorse Finance, Inc. will post 1.66 EPS for the current fiscal year.

WhiteHorse Finance Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Stockholders of record on Monday, December 22nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.9%. The ex-dividend date of this dividend is Monday, December 22nd. WhiteHorse Finance’s dividend payout ratio (DPR) is 232.56%.

Insider Activity

In related news, CEO Stuart D. Aronson bought 14,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $6.92 per share, with a total value of $96,880.00. Following the purchase, the chief executive officer owned 50,000 shares in the company, valued at approximately $346,000. The trade was a 38.89% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Bolduc purchased 14,200 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $6.88 per share, for a total transaction of $97,696.00. Following the completion of the purchase, the director directly owned 251,985 shares in the company, valued at approximately $1,733,656.80. This trade represents a 5.97% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders bought 43,300 shares of company stock worth $298,816. Company insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a report on Wednesday, October 1st. Zacks Research raised shares of WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $7.75.

WhiteHorse Finance Profile

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.