WhiteHorse Finance (NASDAQ:WHF) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

WhiteHorse Finance (NASDAQ:WHF) posted its earnings results on Monday. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.03), Zacks reports. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%.

WhiteHorse Finance Stock Performance

Shares of WHF opened at $7.11 on Monday. The stock has a 50 day moving average price of $7.54 and a 200 day moving average price of $8.46. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $165.26 million, a price-to-earnings ratio of 47.40 and a beta of 0.79. WhiteHorse Finance has a 52-week low of $6.53 and a 52-week high of $11.51.

WhiteHorse Finance Announces Dividend

The firm also recently announced a special dividend, which will be paid on Wednesday, December 10th. Investors of record on Friday, October 31st will be paid a dividend of $0.035 per share. The ex-dividend date is Friday, October 31st. WhiteHorse Finance’s payout ratio is presently 1,026.67%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on WHF. JPMorgan Chase & Co. dropped their target price on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating for the company in a research report on Wednesday, October 1st. B. Riley dropped their price objective on shares of WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. LADENBURG THALM/SH SH raised shares of WhiteHorse Finance to a “hold” rating in a research note on Friday, August 8th. Weiss Ratings reissued a “sell (d+)” rating on shares of WhiteHorse Finance in a research report on Wednesday, October 8th. Finally, Zacks Research raised WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $9.17.

Institutional Trading of WhiteHorse Finance

Several institutional investors have recently modified their holdings of the stock. Oxford Asset Management LLP purchased a new position in shares of WhiteHorse Finance in the 2nd quarter valued at $105,000. Marshall Wace LLP purchased a new stake in WhiteHorse Finance in the second quarter valued at $368,000. Finally, Bank of America Corp DE boosted its stake in WhiteHorse Finance by 92.0% in the second quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after acquiring an additional 88,659 shares in the last quarter. Hedge funds and other institutional investors own 13.20% of the company’s stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.