WhiteHawk Income (NYSE:WHK) Hits New 12-Month Low - Here's What Happened

Key Points

• WhiteHawk Income hit a new 52-week low of $24.01 on Wednesday, down from its prior close of $25.04.
• Analyst views are mixed, but the consensus rating is “Moderate Buy” with a $32 price target; ratings range from Strong Buy to Sell.
• The company paid a quarterly dividend of $0.61 per share, equivalent to a 10.0% annualized yield.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report) hit a new 52-week low during trading on Wednesday. The stock traded as low as $24.01 and last traded at $24.1090, with a volume of 74,784 shares. The stock had previously closed at $25.04.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James Financial decreased their price target on shares of WhiteHawk Income from $37.00 to $35.00 and set a "strong-buy" rating on the stock in a report on Friday, October 2nd. Wall Street Zen lowered shares of WhiteHawk Income from a "hold" rating to a "sell" rating in a research report on Saturday. Zacks Research raised shares of WhiteHawk Income to a "hold" rating in a research note on Tuesday, July 7th. Stifel Nicolaus began coverage on shares of WhiteHawk Income in a report on Thursday, September 10th. They set a "buy" rating and a $32.00 price target for the company. Finally, Weiss Ratings initiated coverage on shares of WhiteHawk Income in a report on Monday, August 31st. They set a "sell (e)" rating for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $32.00.

WhiteHawk Income Stock Performance

The business's fifty day moving average is $26.45. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.18. The firm has a market cap of $669.82 million and a price-to-earnings ratio of -97.26.

WhiteHawk Income Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 24th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 10.0%. The ex-dividend date was Monday, August 24th. WhiteHawk Income's dividend payout ratio is -176.00%.

Hedge Funds Weigh In On WhiteHawk Income

A number of hedge funds have recently modified their holdings of the business. Citadel Advisors LLC acquired a new stake in WhiteHawk Income in the second quarter valued at $10,215,000. Alyeska Investment Group L.P. bought a new position in WhiteHawk Income during the 2nd quarter worth $6,955,000. BlueCrest Capital Management Ltd acquired a new position in WhiteHawk Income during the 2nd quarter worth about $3,756,000. Finally, Readystate Asset Management LP acquired a new position in WhiteHawk Income during the 2nd quarter worth about $696,000.

WhiteHawk Income Company Profile

WhiteHawk Income NYSE: WHK is a business development company that invests in privately owned, middle-market businesses. The company seeks to generate current income primarily through investments in debt securities, including senior secured loans, second-lien loans, unitranche financing and other forms of private credit.

WhiteHawk Income may also make equity investments in portfolio companies, giving it the potential to participate in their long-term growth. Its investment strategy is focused largely on U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.