Zacks Research Downgrades WhiteHorse Finance (NASDAQ:WHF) to Strong Sell

by · The Cerbat Gem

WhiteHorse Finance (NASDAQ:WHF – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also weighed in on WHF. LADENBURG THALM/SH SH raised shares of WhiteHorse Finance to a “hold” rating in a report on Friday, August 8th. B. Riley decreased their price objective on shares of WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 13th. JPMorgan Chase & Co. lowered their price target on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, WhiteHorse Finance has an average rating of “Strong Sell” and a consensus price target of $7.75.

Read Our Latest Analysis on WhiteHorse Finance

WhiteHorse Finance Stock Performance

WhiteHorse Finance stock traded up $0.29 during trading hours on Thursday, hitting $7.04. 142,990 shares of the stock traded hands, compared to its average volume of 102,248. The firm’s 50 day moving average price is $7.36 and its 200-day moving average price is $8.38. The stock has a market capitalization of $163.63 million, a price-to-earnings ratio of 46.94 and a beta of 0.79. WhiteHorse Finance has a 1 year low of $6.39 and a 1 year high of $11.31. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.34 and a quick ratio of 1.34.

WhiteHorse Finance (NASDAQ:WHF – Get Free Report) last posted its quarterly earnings results 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 business had revenue of $17.69 million for the quarter, compared to analysts’ expectations of $18.43 million. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%. As a group, equities analysts expect that WhiteHorse Finance will post 1.66 EPS for the current fiscal year.

Insider Activity

In other news, CEO Stuart D. Aronson purchased 14,000 shares of the company’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average price of $6.92 per share, with a total value of $96,880.00. Following the purchase, the chief executive officer directly owned 50,000 shares in the company, valued at approximately $346,000. This represents a 38.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Bolduc purchased 14,200 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were purchased at an average price of $6.88 per share, with a total value of $97,696.00. Following the acquisition, the director directly owned 251,985 shares in the company, valued at approximately $1,733,656.80. The trade was a 5.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 42,300 shares of company stock valued at $291,866. 2.50% of the stock is owned by company insiders.

Institutional Trading of WhiteHorse Finance

Institutional investors have recently added to or reduced their stakes in the stock. Ethos Financial Group LLC boosted its position in shares of WhiteHorse Finance by 2.8% during the second quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock worth $1,793,000 after buying an additional 5,616 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in WhiteHorse Finance by 13.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock worth $468,000 after acquiring an additional 5,715 shares in the last quarter. Legal & General Group Plc boosted its holdings in WhiteHorse Finance by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock valued at $1,368,000 after acquiring an additional 6,560 shares during the period. Blue Trust Inc. grew its position in WhiteHorse Finance by 11.9% in the 3rd quarter. Blue Trust Inc. now owns 75,437 shares of the investment management company’s stock valued at $522,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Northstar Advisory Group LLC purchased a new stake in WhiteHorse Finance during the second quarter worth about $87,000. Institutional investors and hedge funds own 13.20% of the company’s stock.

About WhiteHorse Finance

(Get Free Report)

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.

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