Zacks Investment Research upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a hold rating to a buy rating in a research note released on Thursday morning. Zacks Investment Research currently has $14.00 target price on the investment management company’s stock.
According to Zacks, “WhiteHorse Finance, Inc. is a business development company focused on originating loans to privately held small-cap companies across a broad range of industries. WhiteHorse Finance, Inc. is based in Miami, United States. “
WHF has been the subject of a number of other reports. BidaskClub upgraded WhiteHorse Finance from a strong sell rating to a sell rating in a research note on Wednesday, September 12th. JPMorgan Chase & Co. raised their price target on WhiteHorse Finance from $13.00 to $14.00 and gave the company a neutral rating in a research note on Monday, July 23rd. Finally, TheStreet downgraded WhiteHorse Finance from a b rating to a c+ rating in a research note on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $14.25.
WHF stock traded down $0.37 during mid-day trading on Thursday, reaching $12.24. The company had a trading volume of 31,454 shares, compared to its average volume of 47,333. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The company has a market cap of $252.51 million, a price-to-earnings ratio of 9.07 and a beta of 0.64. WhiteHorse Finance has a 52 week low of $10.92 and a 52 week high of $15.80.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Wednesday, August 8th. The investment management company reported $0.33 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.03). The company had revenue of $14.65 million during the quarter, compared to the consensus estimate of $14.80 million. WhiteHorse Finance had a net margin of 86.68% and a return on equity of 9.61%. On average, equities research analysts anticipate that WhiteHorse Finance will post 1.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 3rd. Stockholders of record on Tuesday, September 18th were paid a dividend of $0.355 per share. The ex-dividend date of this dividend was Monday, September 17th. This represents a $1.42 annualized dividend and a dividend yield of 11.60%. WhiteHorse Finance’s dividend payout ratio is currently 105.19%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC acquired a new position in WhiteHorse Finance during the second quarter valued at approximately $853,000. Macquarie Group Ltd. lifted its position in WhiteHorse Finance by 81.6% during the second quarter. Macquarie Group Ltd. now owns 39,748 shares of the investment management company’s stock valued at $577,000 after buying an additional 17,861 shares in the last quarter. Resource America Inc. lifted its position in WhiteHorse Finance by 2.5% during the second quarter. Resource America Inc. now owns 252,260 shares of the investment management company’s stock valued at $3,660,000 after buying an additional 6,047 shares in the last quarter. Legal & General Group Plc acquired a new position in WhiteHorse Finance during the second quarter valued at approximately $982,000. Finally, Telemus Capital LLC acquired a new position in WhiteHorse Finance during the second quarter valued at approximately $145,000. Institutional investors own 8.84% of the company’s stock.
About WhiteHorse Finance
WhiteHorse Finance, LLC is a business development company.
Recommended Story: What does earnings per share mean?
Get a free copy of the Zacks research report on WhiteHorse Finance (WHF)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for WhiteHorse Finance Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WhiteHorse Finance and related companies with MarketBeat.com's FREE daily email newsletter.