JPMorgan Chase & Co. Issues Pessimistic Forecast for WhiteHorse Finance (NASDAQ:WHF) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for WhiteHorse Finance from $8.00 to $6.50, indicating a potential downside of 3.63% from its current price, and maintaining an "underweight" rating on the stock.
• Other analysts have also downgraded the stock, with Zacks Research changing its rating from "hold" to "strong sell" and B. Riley reducing its price target, reflecting a consensus average rating of "Reduce" with a price target of $9.17.
• WhiteHorse Finance shares recently traded down 2.5% to $6.75, following an earnings report that showed a miss on earnings per share expectations, highlighting broader concerns about the company’s financial performance.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $8.00 to $6.50 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the investment management company's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 3.63% from the stock's current price.

Other equities research analysts have also issued research reports about the stock. Zacks Research lowered shares of WhiteHorse Finance from a "hold" rating to a "strong sell" rating in a research note on Friday, September 12th. B. Riley reduced their target price on WhiteHorse Finance from $9.50 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, August 13th. Finally, LADENBURG THALM/SH SH upgraded WhiteHorse Finance to a "hold" rating in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Reduce" and a consensus price target of $9.17.

WhiteHorse Finance Stock Down 2.5%

Shares of NASDAQ WHF traded down $0.18 on Wednesday, hitting $6.75. The company had a trading volume of 94,732 shares, compared to its average volume of 92,725. The firm has a market capitalization of $156.75 million, a P/E ratio of 44.97 and a beta of 0.80. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.32. WhiteHorse Finance has a 12-month low of $6.72 and a 12-month high of $12.18. The business has a 50 day moving average of $8.45 and a two-hundred day moving average of $8.96.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.31 by ($0.03). The firm had revenue of $18.84 million for the quarter, compared to analyst estimates of $19.33 million. WhiteHorse Finance had a net margin of 4.36% and a return on equity of 10.72%. As a group, equities research analysts forecast that WhiteHorse Finance will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC lifted its position in WhiteHorse Finance by 5.0% in the first quarter. Sound Income Strategies LLC now owns 1,013,374 shares of the investment management company's stock worth $9,779,000 after purchasing an additional 48,078 shares during the period. Ethos Financial Group LLC raised its stake in shares of WhiteHorse Finance by 2.8% in the 2nd quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company's stock worth $1,793,000 after buying an additional 5,616 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of WhiteHorse Finance by 92.0% in 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. Legal & General Group Plc boosted its stake in WhiteHorse Finance by 4.4% during the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company's stock valued at $1,368,000 after buying an additional 6,560 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in WhiteHorse Finance by 172.4% during the fourth quarter. Millennium Management LLC now owns 129,981 shares of the investment management company's stock worth $1,258,000 after acquiring an additional 82,263 shares during the period. Institutional investors and hedge funds own 13.20% of the company's stock.

About WhiteHorse Finance

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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