WhiteHorse Finance (NASDAQ:WHF) Director John Bolduc Buys 14,200 Shares

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc purchased 14,200 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were acquired at an average cost of $7.00 per share, with a total value of $99,400.00. Following the completion of the transaction, the director directly owned 259,085 shares of the company’s stock, valued at $1,813,595. The trade was a 5.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

John Bolduc also recently made the following trade(s):

• On Wednesday, December 24th, John Bolduc acquired 8,974 shares of WhiteHorse Finance stock. The stock was acquired at an average cost of $6.99 per share, for a total transaction of $62,728.26.
• On Friday, November 14th, John Bolduc bought 14,200 shares of WhiteHorse Finance stock. The shares were acquired at an average cost of $6.88 per share, with a total value of $97,696.00.
• On Thursday, November 13th, John Bolduc bought 14,100 shares of WhiteHorse Finance stock. The shares were acquired at an average price of $6.90 per share, for a total transaction of $97,290.00.

WhiteHorse Finance Stock Performance

Shares of NASDAQ:WHF traded down $0.09 during midday trading on Monday, reaching $6.89. The company had a trading volume of 233,226 shares, compared to its average volume of 236,322. The stock has a market cap of $160.12 million, a P/E ratio of 16.02 and a beta of 0.56. The company’s 50 day moving average price is $7.20 and its 200 day moving average price is $7.95. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.22. WhiteHorse Finance, Inc. has a 52-week low of $6.39 and a 52-week high of $11.31.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings data on Monday, November 10th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $17.69 million for the quarter, compared to analysts’ expectations of $18.43 million. WhiteHorse Finance had a return on equity of 9.93% and a net margin of 12.91%. As a group, sell-side analysts anticipate that WhiteHorse Finance, Inc. will post 1.66 EPS for the current fiscal year.

WhiteHorse Finance Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be paid a $0.25 dividend. The ex-dividend date is Monday, December 22nd. This represents a $1.00 annualized dividend and a yield of 14.5%. WhiteHorse Finance’s dividend payout ratio is presently 232.56%.

Hedge Funds Weigh In On WhiteHorse Finance

A number of large investors have recently made changes to their positions in WHF. Advisory Services Network LLC purchased a new position in shares of WhiteHorse Finance in the third quarter valued at $26,000. HUB Investment Partners LLC bought a new position in WhiteHorse Finance in the 3rd quarter worth about $75,000. Northstar Advisory Group LLC purchased a new position in WhiteHorse Finance during the 2nd quarter valued at about $87,000. Oxford Asset Management LLP bought a new stake in shares of WhiteHorse Finance during the second quarter valued at about $105,000. Finally, Citadel Advisors LLC increased its position in shares of WhiteHorse Finance by 190.8% during the third quarter. Citadel Advisors LLC now owns 21,418 shares of the investment management company’s stock valued at $148,000 after buying an additional 45,018 shares during the period. 13.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WHF shares. Zacks Research upgraded WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price objective on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a research note on Wednesday, October 1st. Three equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $7.75.

About WhiteHorse Finance

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.