Legal & General Group Plc Takes $1.17 Million Position in WhiteHorse Finance, Inc. $WHF

Legal & General Group Plc bought a new position in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 174,879 shares of the investment management company's stock, valued at approximately $1,172,000. Legal & General Group Plc owned 0.81% of WhiteHorse Finance at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Lalia Capital LLC purchased a new position in WhiteHorse Finance during the 2nd quarter valued at about $4,776,000. CastleKnight Management LP purchased a new stake in WhiteHorse Finance in the 4th quarter worth approximately $2,033,000. Two Sigma Investments LP grew 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 last quarter. Bank of America Corp DE increased its stake in shares of WhiteHorse Finance by 92.0% during the second quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company's stock valued at $1,613,000 after buying an additional 88,659 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of WhiteHorse Finance during the fourth quarter valued at approximately $929,000. 13.20% of the stock is owned by institutional investors.

WhiteHorse Finance Stock Performance

WHF opened at $7.10 on Tuesday. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.29. WhiteHorse Finance, Inc. has a 52 week low of $6.07 and a 52 week high of $8.97. The stock has a market cap of $152.51 million, a PE ratio of 8.99 and a beta of 0.38. The business has a 50 day moving average of $6.75 and a 200-day moving average of $6.95.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly 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). The firm had revenue of $15.29 million during the quarter, compared to analysts' expectations of $15.66 million. WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%. Equities research analysts predict that WhiteHorse Finance, Inc. will post 0.97 earnings per share for the current fiscal year.

WhiteHorse Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Monday, September 21st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.1%. WhiteHorse Finance's dividend payout ratio is currently 126.58%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WHF. Weiss Ratings reiterated a "sell (d+)" rating on shares of WhiteHorse Finance in a report on Friday, August 28th. B. Riley Financial lifted their target price on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of WhiteHorse Finance from $6.00 to $6.50 and gave the company an "underweight" rating in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, WhiteHorse Finance currently has a consensus rating of "Reduce" and a consensus target price of $7.25.

Insider Activity

In other WhiteHorse Finance news, Director John Bolduc acquired 15,380 shares of the business's stock in a transaction on Thursday, June 18th. The shares were acquired at an average price of $6.49 per share, for a total transaction of $99,816.20. Following the completion of the acquisition, the director owned 317,297 shares in the company, valued at $2,059,257.53. This trade represents a 5.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stuart D. Aronson acquired 15,000 shares of the business's stock in a transaction on Monday, June 15th. The stock was acquired at an average price of $6.41 per share, for a total transaction of $96,150.00. Following the acquisition, the chief executive officer owned 127,000 shares of the company's stock, valued at approximately $814,070. This trade represents a 13.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 3.80% of the stock is owned by company insiders.

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.

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