WhiteHorse Finance (NASDAQ:WHF) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

WhiteHorse Finance, Inc. (NASDAQ:WHF)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $6.98 and traded as high as $7.09. WhiteHorse Finance shares last traded at $7.02, with a volume of 53,351 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. B. Riley Financial raised their target price on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. JPMorgan Chase & Co. lifted their target price on WhiteHorse Finance from $6.00 to $6.50 and gave the company an “underweight” rating in a research note on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Friday, August 28th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, WhiteHorse Finance currently has a consensus rating of “Reduce” and a consensus target price of $7.25.

WhiteHorse Finance Trading Down 0.1%

The company has a market cap of $150.79 million, a price-to-earnings ratio of 8.89 and a beta of 0.39. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.39 and a quick ratio of 1.39. The firm’s fifty day moving average price is $7.03 and its 200-day moving average price is $6.98.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Monday, August 10th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%. The firm had revenue of $14.37 million for the quarter, compared to the consensus estimate of $15.66 million. On average, equities analysts expect that WhiteHorse Finance, Inc. will post 0.97 EPS for the current fiscal year.

WhiteHorse Finance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 5th. Stockholders of record on Monday, September 21st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.2%. The ex-dividend date of this dividend was Monday, September 21st. WhiteHorse Finance’s dividend payout ratio (DPR) is 126.58%.

Hedge Funds Weigh In On WhiteHorse Finance

A number of institutional investors and hedge funds have recently bought and sold shares of WHF. Lalia Capital LLC acquired a new position in WhiteHorse Finance during the 2nd quarter valued at about $4,776,000. Bank of America Corp DE acquired a new stake in shares of WhiteHorse Finance in the 2nd quarter worth approximately $1,240,000. Legal & General Group Plc bought a new position in shares of WhiteHorse Finance in the second quarter valued at approximately $1,172,000. BlackRock Inc. bought a new position in shares of WhiteHorse Finance in the second quarter valued at approximately $477,000. Finally, Gables Capital Management Inc. bought a new position in shares of WhiteHorse Finance in the second quarter valued at approximately $294,000. Institutional investors own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance, Inc (NASDAQ: WHF) is a business development company that provides financing to privately owned, primarily lower-middle-market companies. The company seeks to generate income and, to a lesser extent, capital appreciation through investments in a range of industries.

WhiteHorse Finance primarily invests in senior secured loans, including first-lien and second-lien loans, as well as subordinated debt and selected equity investments. Its financing may support acquisitions, recapitalizations, growth initiatives, refinancing transactions and other general corporate purposes.

The company focuses mainly on U.S.-based middle-market businesses and works with companies that may have limited access to traditional bank financing.