Sound Income Strategies LLC Has $8.22 Million Stock Holdings in WhiteHorse Finance, Inc. $WHF

Key Points

• Sound Income Strategies LLC reduced its stake in WhiteHorse Finance, Inc. by 7.0%, now holding approximately 4.05% of the company, which is valued at about $8.22 million.
• Recent analyst ratings for WhiteHorse Finance include upgrades to a "hold" from LADENBURG THALM/SH SH and a downgrade to "strong sell" from Zacks Research, with a consensus price target around $10.00.
• WhiteHorse Finance has announced a quarterly dividend of $0.385 per share, reflecting an annualized yield of 21.7%, though its dividend payout ratio is currently exceptionally high at 1,026.67%.

Sound Income Strategies LLC decreased its position in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF - Free Report) by 7.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 942,066 shares of the investment management company's stock after selling 71,308 shares during the quarter. Sound Income Strategies LLC owned approximately 4.05% of WhiteHorse Finance worth $8,215,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WHF. Northern Trust Corp lifted its holdings in WhiteHorse Finance by 42.4% during the 4th quarter. Northern Trust Corp now owns 19,570 shares of the investment management company's stock worth $189,000 after buying an additional 5,828 shares in the last quarter. Jane Street Group LLC acquired a new position in WhiteHorse Finance during the 4th quarter worth $241,000. Bank of America Corp DE lifted its stake in shares of WhiteHorse Finance by 26.5% in the 4th quarter. Bank of America Corp DE now owns 41,301 shares of the investment management company's stock valued at $400,000 after purchasing an additional 8,651 shares during the period. Millennium Management LLC lifted its stake in shares of WhiteHorse Finance by 172.4% in the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company's stock valued at $1,258,000 after purchasing an additional 82,263 shares during the period. Finally, Two Sigma Investments LP lifted its stake in shares of WhiteHorse Finance by 19.5% in the 4th quarter. Two Sigma Investments LP now owns 211,790 shares of the investment management company's stock valued at $2,050,000 after purchasing an additional 34,570 shares during the period. Institutional investors and hedge funds own 13.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WHF. LADENBURG THALM/SH SH raised WhiteHorse Finance to a "hold" rating in a research note on Friday, August 8th. Zacks Research downgraded WhiteHorse Finance from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. Finally, B. Riley cut their price target on WhiteHorse Finance from $9.50 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 13th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, WhiteHorse Finance presently has a consensus rating of "Reduce" and an average price target of $10.00.

WhiteHorse Finance Stock Performance

Shares of WhiteHorse Finance stock opened at $7.11 on Monday. The company has a market capitalization of $165.24 million, a PE ratio of 47.40 and a beta of 0.80. WhiteHorse Finance, Inc. has a 12 month low of $7.11 and a 12 month high of $12.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.32. The stock's fifty day simple moving average is $8.52 and its 200 day simple moving average is $8.99.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.03). The business had revenue of $18.84 million for the quarter, compared to analyst estimates of $19.33 million. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%. On average, research analysts predict that WhiteHorse Finance, Inc. will post 1.66 EPS for the current year.

WhiteHorse Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 3rd. Investors of record on Friday, September 19th will be paid a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 21.7%. The ex-dividend date of this dividend is Friday, September 19th. WhiteHorse Finance's dividend payout ratio (DPR) is presently 1,026.67%.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.

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