WhiteHorse Finance (NASDAQ:WHF) Stock Price Target Raised at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its WhiteHorse Finance price target from $6.50 to $7.50 but maintained an underweight rating, implying 5.78% downside from the prior close.
• Analyst opinion is mixed: the average rating is Hold, with an average price target of $8.17. Other recent calls included an $8 target from B. Riley and a $9 target with an outperform rating from Raymond James.
• WhiteHorse’s latest reported quarter missed expectations, with EPS of $0.22 versus estimates of $0.25 and revenue of $14.37 million versus a $15.66 million consensus.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) had its target price boosted by research analysts at JPMorgan Chase & Co. from $6.50 to $7.50 in a research report issued on Tuesday, Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 5.78% from the company's previous close.

Several other analysts have also issued reports on the stock. B. Riley Financial boosted their price target on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Weiss Ratings upgraded shares of WhiteHorse Finance from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, November 2nd. Finally, Raymond James Financial upgraded shares of WhiteHorse Finance from a "market perform" rating to an "outperform" rating and set a $9.00 price objective for the company in a research note on Thursday, October 22nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $8.17.

WhiteHorse Finance Stock Down 1.7%

Shares of WHF traded down $0.14 on Tuesday, reaching $7.96. The company's stock had a trading volume of 43,848 shares, compared to its average volume of 96,428. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29. WhiteHorse Finance has a twelve month low of $6.07 and a twelve month high of $8.53. The stock has a market capitalization of $170.98 million, a PE ratio of 10.07 and a beta of 0.37. The firm has a fifty day moving average of $7.42 and a 200-day moving average of $7.04.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.03). WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. The business had revenue of $14.37 million during the quarter, compared to the consensus estimate of $15.66 million. Equities analysts predict that WhiteHorse Finance will post 0.97 EPS for the current year.

Institutional Investors Weigh In On WhiteHorse Finance

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd purchased a new position in shares of WhiteHorse Finance in the third quarter valued at $28,000. NewEdge Wealth LLC purchased a new stake in WhiteHorse Finance during the second quarter valued at $117,000. Ritholtz Wealth Management bought a new position in WhiteHorse Finance during the third quarter valued at $123,000. Arlington Capital Management INC bought a new position in WhiteHorse Finance during the third quarter valued at $185,000. Finally, Gables Capital Management Inc. bought a new position in WhiteHorse Finance during the second quarter valued at $294,000. 13.20% of the stock is owned by hedge funds and other institutional investors.

WhiteHorse Finance News Roundup

Here are the key news stories impacting WhiteHorse Finance this week:

• Positive Sentiment: WhiteHorse declared a quarterly dividend of $0.25 per share, payable January 6 to shareholders of record December 21. That maintains a $1.00 annualized payout, equivalent to a reported yield of about 12.3%. WhiteHorse Q3 results and dividend announcement
• Neutral Sentiment: Management expects the sale of its Chase investment in the next two to four months, while a special committee review continues. A completed sale could provide clarity or liquidity, but its outcome and timing remain uncertain. Report on expected Chase sale and committee review
• Negative Sentiment: Third-quarter results missed expectations: EPS was $0.22 versus analyst estimates of roughly $0.24–$0.25, while revenue of $14.83 million was below the cited $15.19 million consensus. EPS also declined from $0.26 a year earlier, a potential source of pressure on the stock. Zacks report on Q3 earnings and revenue

About WhiteHorse Finance

WhiteHorse Finance, Inc is a business development company that provides financing to privately owned, middle-market businesses in the United States. The company primarily invests in senior secured loans, including first-lien and unitranche loans, and may also provide second-lien and subordinated debt financing.

In addition to debt investments, WhiteHorse Finance may make equity investments and co-investments alongside its lending activities. Its portfolio generally supports acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes for middle-market companies across a range of industries.

WhiteHorse Finance was formed in 2012 and operates as a regulated business development company under the Investment Company Act of 1940.

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