WhiteHorse Finance Inc (NASDAQ:WHF) – B. Riley reduced their Q4 2019 earnings per share (EPS) estimates for shares of WhiteHorse Finance in a research note issued on Monday, January 13th. B. Riley analyst T. Hayes now anticipates that the investment management company will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.39. B. Riley has a “Buy” rating and a $14.50 price objective on the stock. B. Riley also issued estimates for WhiteHorse Finance’s Q1 2020 earnings at $0.37 EPS, Q2 2020 earnings at $0.37 EPS, Q3 2020 earnings at $0.37 EPS, Q4 2020 earnings at $0.39 EPS, Q1 2021 earnings at $0.39 EPS, Q2 2021 earnings at $0.39 EPS, Q3 2021 earnings at $0.39 EPS, Q4 2021 earnings at $0.40 EPS and FY2021 earnings at $1.56 EPS.
Several other research analysts have also recently issued reports on WHF. BidaskClub cut shares of WhiteHorse Finance from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 6th. Zacks Investment Research raised shares of WhiteHorse Finance from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Saturday. ValuEngine raised shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Finally, National Securities raised shares of WhiteHorse Finance from a “neutral” rating to a “buy” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. WhiteHorse Finance currently has an average rating of “Hold” and a consensus target price of $14.60.
WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Thursday, November 7th. The investment management company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The firm had revenue of $17.76 million during the quarter, compared to analysts’ expectations of $16.82 million. WhiteHorse Finance had a net margin of 40.72% and a return on equity of 9.99%.
The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Thursday, December 19th were given a dividend of $0.355 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.42 annualized dividend and a yield of 10.22%. WhiteHorse Finance’s payout ratio is currently 94.67%.
In other WhiteHorse Finance news, major shareholder Sami Mnaymneh sold 337,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $13.83, for a total transaction of $4,667,625.00. Following the transaction, the insider now directly owns 6,338 shares in the company, valued at $87,654.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in WHF. Marshall Wace LLP boosted its position in WhiteHorse Finance by 91.1% during the second quarter. Marshall Wace LLP now owns 166,991 shares of the investment management company’s stock worth $2,296,000 after acquiring an additional 79,600 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in WhiteHorse Finance during the second quarter worth approximately $916,000. Morgan Stanley boosted its position in WhiteHorse Finance by 28.2% during the second quarter. Morgan Stanley now owns 135,834 shares of the investment management company’s stock worth $1,868,000 after acquiring an additional 29,902 shares during the last quarter. Sound Income Strategies LLC boosted its position in WhiteHorse Finance by 90.1% during the fourth quarter. Sound Income Strategies LLC now owns 31,061 shares of the investment management company’s stock worth $426,000 after acquiring an additional 14,725 shares during the last quarter. Finally, PVG Asset Management Corp acquired a new stake in WhiteHorse Finance during the second quarter worth approximately $178,000. Institutional investors and hedge funds own 15.79% 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.
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