JPMorgan Chase & Co. Has Lowered Expectations for WhiteHorse Finance (NASDAQ:WHF) Stock Price

WhiteHorse Finance (NASDAQ:WHF) had its target price lowered by research analysts at JPMorgan Chase & Co. from $6.50 to $6.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 11.50% from the company’s previous close.

Separately, Weiss Ratings lowered shares of WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. Three analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, WhiteHorse Finance has a consensus rating of “Reduce” and an average target price of $7.50.

WhiteHorse Finance Stock Performance

NASDAQ:WHF opened at $6.78 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.23 and a current ratio of 2.23. WhiteHorse Finance has a fifty-two week low of $6.07 and a fifty-two week high of $9.28. The firm has a market cap of $145.63 million, a PE ratio of 16.54 and a beta of 0.37. The business has a 50 day moving average price of $6.97 and a 200-day moving average price of $7.00.

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

Insider Activity at WhiteHorse Finance

In related news, CEO Stuart D. Aronson purchased 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were acquired at an average price of $6.67 per share, for a total transaction of $133,400.00. Following the completion of the acquisition, the chief executive officer directly owned 100,000 shares in the company, valued at approximately $667,000. The trade was a 25.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Bolduc acquired 15,380 shares of WhiteHorse Finance stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $6.49 per share, for a total transaction of $99,816.20. Following the completion of the transaction, the director owned 317,297 shares in the company, valued at approximately $2,059,257.53. This trade represents a 5.09% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 94,940 shares of company stock worth $627,568 over the last three months. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Lalia Capital LLC purchased a new stake in shares of WhiteHorse Finance in the 4th quarter worth about $4,628,000. CastleKnight Management LP purchased a new position in shares of WhiteHorse Finance during the fourth quarter valued at about $2,033,000. Jane Street Group LLC bought a new position in WhiteHorse Finance in the fourth quarter worth about $929,000. Bank of America Corp DE raised its stake in WhiteHorse Finance by 92.0% in 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 in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in WhiteHorse Finance by 27.5% in the third 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 period. 13.20% of the stock is currently owned by 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.