Insider Buying: WhiteHorse Finance (NASDAQ:WHF) Director Acquires 7,140 Shares of Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc acquired 7,140 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $6.76 per share, for a total transaction of $48,266.40. Following the completion of the acquisition, the director directly owned 309,607 shares in the company, valued at approximately $2,092,943.32. The trade was a 2.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

John Bolduc also recently made the following trade(s):

• On Monday, June 1st, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The stock was acquired at an average cost of $6.88 per share, for a total transaction of $49,123.20.
• On Friday, May 29th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The stock was acquired at an average cost of $6.76 per share, for a total transaction of $48,266.40.
• On Wednesday, May 27th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $49,266.00.
• On Monday, March 16th, John Bolduc purchased 8,390 shares of WhiteHorse Finance stock. The shares were purchased at an average cost of $7.12 per share, for a total transaction of $59,736.80.
• On Thursday, March 12th, John Bolduc purchased 8,390 shares of WhiteHorse Finance stock. The stock was acquired at an average price of $7.14 per share, with a total value of $59,904.60.

WhiteHorse Finance Price Performance

Shares of WhiteHorse Finance stock traded down $0.13 on Friday, reaching $6.66. The company’s stock had a trading volume of 89,197 shares, compared to its average volume of 112,050. The company has a market capitalization of $143.92 million, a P/E ratio of 16.24 and a beta of 0.37. WhiteHorse Finance, Inc. has a 52-week low of $6.07 and a 52-week high of $9.66. The stock has a 50-day moving average price of $7.29 and a 200-day moving average price of $7.10. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.30.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). The company had revenue of $15.90 million for the quarter, compared to analysts’ expectations of $16.35 million. WhiteHorse Finance had a net margin of 13.46% and a return on equity of 9.47%. Analysts expect that WhiteHorse Finance, Inc. will post 1.03 EPS for the current year.

WhiteHorse Finance Dividend Announcement

The business also recently disclosed 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 15.0%. The ex-dividend date of this dividend is Thursday, May 21st. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 243.90%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteHorse Finance currently has an average rating of “Reduce” and an average price target of $7.75.

Institutional Investors Weigh In On WhiteHorse Finance

Institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of WhiteHorse Finance during the fourth quarter valued at about $125,000. Trexquant Investment LP purchased a new position in WhiteHorse Finance in the fourth quarter worth approximately $108,000. Oxford Asset Management LLP purchased a new position in WhiteHorse Finance in the second quarter worth approximately $105,000. O Shaughnessy Asset Management LLC purchased a new position in WhiteHorse Finance in the fourth quarter worth approximately $88,000. Finally, Kestra Advisory Services LLC purchased a new position in WhiteHorse Finance in the fourth quarter worth approximately $44,000. 13.20% of the stock is currently owned by institutional investors and hedge funds.

About WhiteHorse Finance

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.