Legal & General Group Plc boosted its holdings in shares of WhiteHorse Finance Inc (NASDAQ:WHF) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 115,585 shares of the investment management company’s stock after purchasing an additional 1,702 shares during the quarter. Legal & General Group Plc’s holdings in WhiteHorse Finance were worth $818,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Great West Life Assurance Co. Can acquired a new position in shares of WhiteHorse Finance in the 4th quarter worth approximately $48,000. First Pacific Advisors LP acquired a new position in shares of WhiteHorse Finance in the 1st quarter worth approximately $66,000. Commonwealth Equity Services LLC grew its position in shares of WhiteHorse Finance by 60.2% in the 1st quarter. Commonwealth Equity Services LLC now owns 16,057 shares of the investment management company’s stock worth $113,000 after acquiring an additional 6,033 shares in the last quarter. Citigroup Inc. grew its position in shares of WhiteHorse Finance by 361.1% in the 4th quarter. Citigroup Inc. now owns 8,300 shares of the investment management company’s stock worth $114,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in WhiteHorse Finance during the 4th quarter valued at approximately $138,000. Institutional investors own 19.01% of the company’s stock.
Shares of WhiteHorse Finance stock opened at $10.16 on Wednesday. WhiteHorse Finance Inc has a 12-month low of $5.51 and a 12-month high of $14.45. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $208.34 million, a PE ratio of 59.76 and a beta of 1.31. The stock’s fifty day moving average is $10.06 and its 200-day moving average is $11.24.
WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Monday, May 11th. The investment management company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.07). WhiteHorse Finance had a net margin of 4.38% and a return on equity of 9.68%. The business had revenue of $14.53 million for the quarter, compared to analysts’ expectations of $17.12 million. Analysts expect that WhiteHorse Finance Inc will post 1.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Friday, June 19th will be issued a dividend of $0.355 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $1.42 dividend on an annualized basis and a dividend yield of 13.98%. WhiteHorse Finance’s dividend payout ratio is 93.42%.
A number of research firms recently issued reports on WHF. National Securities upgraded WhiteHorse Finance from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 12th. BidaskClub raised WhiteHorse Finance from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 5th. Oppenheimer dropped their price objective on WhiteHorse Finance from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Deutsche Bank dropped their price objective on WhiteHorse Finance from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, B. Riley reaffirmed a “hold” rating and set a $10.50 target price on shares of WhiteHorse Finance in a research report on Friday, April 3rd. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $12.33.
About WhiteHorse Finance
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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