WhiteHawk Income (NYSE:WHK) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of WhiteHawk Income (NYSE:WHK) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

WHK has been the topic of a number of other reports. JPMorgan Chase & Co. initiated coverage on shares of WhiteHawk Income in a research report on Monday, July 6th. They set a “neutral” rating and a $28.00 price objective on the stock. Raymond James Financial cut their target price on shares of WhiteHawk Income from $37.00 to $35.00 and set a “strong-buy” rating for the company in a research report on Friday, October 2nd. Wall Street Zen downgraded shares of WhiteHawk Income from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings began coverage on shares of WhiteHawk Income in a research note on Monday, August 31st. They set a “sell (e)” rating for the company. Finally, Stephens began coverage on shares of WhiteHawk Income in a report on Monday, July 6th. They set an “overweight” rating and a $33.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, WhiteHawk Income presently has an average rating of “Moderate Buy” and an average price target of $32.00.

WhiteHawk Income Price Performance

Shares of WHK opened at $24.50 on Tuesday. The firm has a market cap of $674.84 million and a P/E ratio of -97.98. WhiteHawk Income has a fifty-two week low of $24.01 and a fifty-two week high of $29.07. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a 50-day simple moving average of $26.41.

WhiteHawk Income Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 24th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 10.0%. WhiteHawk Income’s dividend payout ratio (DPR) is -176.00%.

Institutional Investors Weigh In On WhiteHawk Income

Institutional investors have recently made changes to their positions in the company. Alpha Wealth Funds LLC acquired a new position in WhiteHawk Income in the third quarter worth approximately $249,000. BlueCrest Capital Management Ltd bought a new position in WhiteHawk Income during the second quarter valued at approximately $3,756,000. Citadel Advisors LLC acquired a new stake in WhiteHawk Income in the second quarter valued at approximately $10,215,000. Readystate Asset Management LP acquired a new stake in WhiteHawk Income in the second quarter valued at approximately $696,000. Finally, Alyeska Investment Group L.P. acquired a new stake in WhiteHawk Income in the second quarter valued at approximately $6,955,000.

About WhiteHawk Income

WhiteHawk Income (NYSE:WHK) is a business development company that invests in privately owned, middle-market businesses. The company seeks to generate current income primarily through investments in debt securities, including senior secured loans, second-lien loans, unitranche financing and other forms of private credit.

WhiteHawk Income may also make equity investments in portfolio companies, giving it the potential to participate in their long-term growth. Its investment strategy is focused largely on U.S.