WhiteHorse Finance, Inc. (NASDAQ:WHF) Plans Quarterly Dividend of $0.25

WhiteHorse Finance, Inc. (NASDAQ:WHF) announced a quarterly dividend on Monday, August 10th. Stockholders of record on Monday, September 21st will be paid a dividend of 0.25 per share by the investment management company on Monday, October 5th. This represents a c) annualized dividend and a dividend yield of 14.9%. The ex-dividend date is Monday, September 21st.

WhiteHorse Finance has decreased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a dividend payout ratio of 87.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect WhiteHorse Finance to earn $0.96 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 104.2%.

WhiteHorse Finance Stock Down 1.0%

WHF opened at $6.71 on Tuesday. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 1.30. The firm has a market cap of $144.13 million, a P/E ratio of 16.37 and a beta of 0.38. WhiteHorse Finance has a 52 week low of $6.07 and a 52 week high of $8.97. The business’s fifty day simple moving average is $6.55 and its 200 day simple moving average is $6.89.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). WhiteHorse Finance had a net margin of 13.46% and a return on equity of 9.47%. The firm had revenue of $14.37 million during the quarter, compared to analyst estimates of $15.66 million. As a group, equities research analysts anticipate that WhiteHorse Finance will post 1 EPS for the current fiscal year.

Insider Activity

In related news, Director John Bolduc bought 15,380 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $6.49 per share, with a total value of $99,816.20. Following the completion of the transaction, the director owned 317,297 shares of the company’s stock, valued at approximately $2,059,257.53. The trade was a 5.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stuart D. Aronson bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was bought at an average cost of $6.41 per share, for a total transaction of $96,150.00. Following the completion of the transaction, the chief executive officer directly owned 127,000 shares of the company’s stock, valued at approximately $814,070. The trade was a 13.39% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 94,940 shares of company stock valued at $627,568 in the last 90 days. 3.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On WhiteHorse Finance

A number of large investors have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in shares of WhiteHorse Finance in the 2nd quarter valued at $368,000. Bank of America Corp DE increased its holdings in shares of WhiteHorse Finance by 92.0% during the 2nd quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock worth $1,613,000 after buying an additional 88,659 shares during the last quarter. Oxford Asset Management LLP acquired a new stake in shares of WhiteHorse Finance during the 2nd quarter worth $105,000. Two Sigma Investments LP raised its position in shares of WhiteHorse Finance by 27.5% in the 3rd quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock worth $1,599,000 after buying an additional 49,893 shares during the period. Finally, Citadel Advisors LLC raised its position in shares of WhiteHorse Finance by 190.8% in the 3rd quarter. Citadel Advisors LLC now owns 21,418 shares of the investment management company’s stock worth $148,000 after buying an additional 45,018 shares during the period. Hedge funds and other institutional investors own 13.20% of the company’s stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.