WhiteHorse Finance, Inc. (NASDAQ:WHF) Sees Large Increase in Short Interest

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the recipient of a significant increase in short interest in January. As of January 30th, there was short interest totaling 472,310 shares, an increase of 82.7% from the January 15th total of 258,507 shares. Based on an average daily volume of 122,880 shares, the days-to-cover ratio is presently 3.8 days. Currently, 2.1% of the shares of the stock are sold short. Currently, 2.1% of the shares of the stock are sold short. Based on an average daily volume of 122,880 shares, the days-to-cover ratio is presently 3.8 days.

WhiteHorse Finance Stock Down 0.5%

Shares of NASDAQ WHF opened at $6.55 on Friday. The business has a 50-day moving average of $6.97 and a two-hundred day moving average of $7.46. 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 market capitalization of $152.24 million, a price-to-earnings ratio of 15.23 and a beta of 0.56. WhiteHorse Finance has a 1 year low of $6.39 and a 1 year high of $11.31.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Zacks Research upgraded 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 report on Wednesday, January 21st. Three investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $7.75.

Insider Activity at WhiteHorse Finance

In other WhiteHorse Finance news, Director John Bolduc bought 8,974 shares of WhiteHorse Finance stock in a transaction dated Wednesday, December 24th. The shares were purchased at an average cost of $6.99 per share, for a total transaction of $62,728.26. Following the acquisition, the director directly owned 263,698 shares in the company, valued at approximately $1,843,249.02. This represents a 3.52% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stuart D. Aronson bought 7,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were acquired at an average price of $6.80 per share, for a total transaction of $47,600.00. Following the completion of the transaction, the chief executive officer directly owned 67,000 shares in the company, valued at approximately $455,600. This represents a 11.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 44,676 shares of company stock valued at $310,287 over the last 90 days. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On WhiteHorse Finance

A number of institutional investors and hedge funds have recently bought and sold shares of WHF. Lalia Capital LLC purchased a new position in shares of WhiteHorse Finance during the fourth quarter worth about $4,628,000. Ethos Financial Group LLC boosted its position in shares of WhiteHorse Finance by 9.7% in the 4th quarter. Ethos Financial Group LLC now owns 243,940 shares of the investment management company’s stock valued at $1,695,000 after purchasing an additional 21,486 shares during the period. Two Sigma Investments LP grew its stake in WhiteHorse Finance by 27.5% during the 3rd quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock worth $1,599,000 after buying an additional 49,893 shares during the last quarter. Bank of America Corp DE increased its position in 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 buying an additional 88,659 shares during the period. Finally, Legal & General Group Plc increased its position in WhiteHorse Finance by 4.4% during the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after buying an additional 6,560 shares during the period. 13.20% of the stock is owned by hedge funds and other institutional investors.

WhiteHorse Finance Company 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.