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

WhiteHorse Finance (NASDAQ:WHF) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Zacks.com reports.

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 several other research reports. Raymond James initiated coverage on shares of WhiteHorse Finance in a research report on Tuesday, June 18th. They issued an “outperform” rating and a $16.00 price target for the company. BidaskClub cut shares of WhiteHorse Finance from a “hold” rating to a “sell” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $14.63.

Shares of NASDAQ:WHF traded up $0.03 during mid-day trading on Friday, reaching $13.93. 81,111 shares of the company were exchanged, compared to its average volume of 53,749. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.51 and a current ratio of 1.51. The company has a market cap of $288.05 million, a price-to-earnings ratio of 9.29 and a beta of 0.60. The company has a 50-day moving average price of $13.96. WhiteHorse Finance has a 1 year low of $11.89 and a 1 year high of $15.00.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.02. The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $15.46 million. WhiteHorse Finance had a net margin of 80.64% and a return on equity of 9.50%. On average, research analysts predict that WhiteHorse Finance will post 1.48 earnings per share for the current year.

In other news, major shareholder Anthony Tamer sold 2,350,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $14.00, for a total value of $32,900,000.00. Following the sale, the insider now directly owns 6,026 shares in the company, valued at approximately $84,364. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Francis Burke acquired 3,000 shares of WhiteHorse Finance stock in a transaction dated Monday, June 17th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $42,000.00. Following the completion of the acquisition, the director now directly owns 7,530 shares in the company, valued at approximately $105,420. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in WhiteHorse Finance by 12.0% during the 4th quarter. Legal & General Group Plc now owns 89,166 shares of the investment management company’s stock worth $1,139,000 after acquiring an additional 9,546 shares in the last quarter. Marshall Wace LLP acquired a new stake in WhiteHorse Finance during the 1st quarter worth $1,241,000. Tradition Capital Management LLC acquired a new stake in WhiteHorse Finance during the 1st quarter worth $943,000. Sumitomo Mitsui Asset Management Company LTD raised its stake in WhiteHorse Finance by 97.4% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock worth $881,000 after acquiring an additional 30,609 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in WhiteHorse Finance during the 1st quarter worth $409,000. Institutional investors and hedge funds own 11.42% of the company’s stock.

WhiteHorse Finance Company Profile

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.

See Also: What does a bar chart mean for investors?

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.