WhiteHorse Finance Inc (NASDAQ:WHF) – Equities researchers at B. Riley dropped their Q1 2020 earnings per share (EPS) estimates for shares of WhiteHorse Finance in a research report issued to clients and investors on Tuesday, March 24th. B. Riley analyst T. Hayes now expects that the investment management company will earn $0.35 per share for the quarter, down from their prior forecast of $0.37. B. Riley has a “Neutral” rating and a $10.50 price objective on the stock. B. Riley also issued estimates for WhiteHorse Finance’s Q2 2020 earnings at $0.32 EPS, Q4 2020 earnings at $0.32 EPS, FY2020 earnings at $1.32 EPS, Q1 2021 earnings at $0.35 EPS, Q2 2021 earnings at $0.35 EPS and Q4 2021 earnings at $0.36 EPS.
WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Monday, March 2nd. The investment management company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.03. The company had revenue of $17.41 million for the quarter, compared to analyst estimates of $16.49 million. WhiteHorse Finance had a return on equity of 9.92% and a net margin of 45.98%.
Other equities analysts have also recently issued reports about the stock. Oppenheimer upgraded shares of WhiteHorse Finance from a “market perform” rating to an “outperform” rating and set a $16.00 price objective for the company in a research report on Tuesday, March 3rd. National Securities upgraded shares of WhiteHorse Finance from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 17th. BidaskClub upgraded shares of WhiteHorse Finance from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 5th. ValuEngine cut shares of WhiteHorse Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, March 17th. Finally, JPMorgan Chase & Co. upgraded shares of WhiteHorse Finance from an “underweight” rating to a “neutral” rating and set a $14.00 price target for the company in a report on Monday, February 3rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $14.36.
WHF opened at $8.41 on Thursday. The company’s 50 day moving average is $12.26 and its 200-day moving average is $13.50. WhiteHorse Finance has a 1-year low of $5.51 and a 1-year high of $14.86. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.96. The company has a market cap of $138.89 million, a P/E ratio of 5.53 and a beta of 0.62.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Stockholders of record on Friday, March 27th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 16.88%. The ex-dividend date of this dividend is Thursday, March 26th. WhiteHorse Finance’s dividend payout ratio (DPR) is currently 93.42%.
In other news, Director G Stacy Smith purchased 3,700 shares of WhiteHorse Finance stock in a transaction dated Wednesday, March 4th. The shares were bought at an average cost of $13.85 per share, for a total transaction of $51,245.00. Following the completion of the acquisition, the director now owns 3,700 shares in the company, valued at approximately $51,245. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stuart D. Aronson purchased 12,000 shares of WhiteHorse Finance stock in a transaction dated Wednesday, March 18th. The shares were purchased at an average price of $6.08 per share, for a total transaction of $72,960.00. Following the completion of the acquisition, the chief executive officer now owns 28,000 shares of the company’s stock, valued at approximately $170,240. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 168,225 shares of company stock worth $1,849,775. Company insiders own 1.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. UBS Group AG grew its holdings in WhiteHorse Finance by 49.5% during the 4th quarter. UBS Group AG now owns 472,937 shares of the investment management company’s stock worth $6,479,000 after acquiring an additional 156,542 shares during the period. Resource America Inc. grew its stake in WhiteHorse Finance by 13.4% during the fourth quarter. Resource America Inc. now owns 295,854 shares of the investment management company’s stock worth $4,053,000 after purchasing an additional 35,000 shares during the period. Acadian Asset Management LLC grew its stake in WhiteHorse Finance by 41.0% during the fourth quarter. Acadian Asset Management LLC now owns 113,821 shares of the investment management company’s stock worth $1,561,000 after purchasing an additional 33,104 shares during the period. Bulldog Investors LLC grew its stake in WhiteHorse Finance by 217.9% during the fourth quarter. Bulldog Investors LLC now owns 110,085 shares of the investment management company’s stock worth $1,508,000 after purchasing an additional 75,455 shares during the period. Finally, Gables Capital Management Inc. increased its holdings in WhiteHorse Finance by 6.1% in the fourth quarter. Gables Capital Management Inc. now owns 109,343 shares of the investment management company’s stock worth $1,499,000 after purchasing an additional 6,314 shares in the last quarter. Institutional investors and hedge funds own 20.40% of the company’s stock.
About WhiteHorse Finance
WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.
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