Legal & General Group Plc lifted its stake in shares of WhiteHorse Finance Inc (NASDAQ:WHF) by 1.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 115,585 shares of the investment management company’s stock after buying an additional 1,702 shares during the quarter. Legal & General Group Plc owned approximately 0.56% of WhiteHorse Finance worth $818,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Resource America Inc. boosted its holdings in WhiteHorse Finance by 77.4% in the first quarter. Resource America Inc. now owns 524,959 shares of the investment management company’s stock valued at $3,717,000 after purchasing an additional 229,105 shares in the last quarter. UBS Group AG boosted its holdings in shares of WhiteHorse Finance by 49.5% in the fourth quarter. UBS Group AG now owns 472,937 shares of the investment management company’s stock valued at $6,479,000 after acquiring an additional 156,542 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of WhiteHorse Finance by 87.5% in the first quarter. Acadian Asset Management LLC now owns 213,425 shares of the investment management company’s stock valued at $1,512,000 after acquiring an additional 99,604 shares during the period. Bulldog Investors LLC boosted its holdings in shares of WhiteHorse Finance by 217.9% in the fourth quarter. Bulldog Investors LLC now owns 110,085 shares of the investment management company’s stock valued at $1,508,000 after acquiring an additional 75,455 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of WhiteHorse Finance in the first quarter valued at approximately $530,000. 19.01% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on WHF. Deutsche Bank decreased their price objective on WhiteHorse Finance from $15.00 to $11.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. decreased their price objective on WhiteHorse Finance from $14.50 to $10.50 and set a “neutral” rating for the company in a report on Monday, May 4th. Oppenheimer cut their price target on WhiteHorse Finance from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. BidaskClub upgraded WhiteHorse Finance from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Finally, B. Riley restated a “hold” rating and set a $10.50 price target on shares of WhiteHorse Finance in a research note on Friday, April 3rd. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $12.33.
WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings data on Monday, May 11th. The investment management company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.07). The business had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $17.12 million. WhiteHorse Finance had a return on equity of 9.68% and a net margin of 4.38%. As a group, equities research analysts anticipate that WhiteHorse Finance Inc will post 1.19 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Shareholders of record on Friday, June 19th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 13.98%. The ex-dividend date is Thursday, June 18th. WhiteHorse Finance’s payout ratio is 93.42%.
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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