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

Key Points

• WhiteHawk Income shares hit a new 52-week low, trading as low as $25.29 and closing around $25.28, down 1.9% from the prior close.
• Analyst opinions are mixed, but the stock has a consensus “Moderate Buy” rating with an average price target of $32.40, above its recent trading level.
• The company declared a quarterly dividend of $0.61, equivalent to $2.44 annually and a 9.7% yield; several institutional investors also initiated positions during the second quarter.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report) reached a new 52-week low on Tuesday. The stock traded as low as $25.29 and last traded at $25.2750, with a volume of 88399 shares traded. The stock had previously closed at $25.72.

Analyst Upgrades and Downgrades

A number of analysts recently commented on WHK shares. Zacks Research raised WhiteHawk Income to a "hold" rating in a research note on Tuesday, July 7th. Weiss Ratings assumed coverage on shares of WhiteHawk Income in a research note on Monday, August 31st. They issued a "sell (e)" rating for the company. Stifel Nicolaus assumed coverage on WhiteHawk Income in a research report on Thursday, September 10th. They set a "buy" rating and a $32.00 price objective on the stock. Raymond James Financial raised their target price on WhiteHawk Income from $34.00 to $37.00 and gave the company a "strong-buy" rating in a research note on Wednesday, September 2nd. Finally, Wall Street Zen cut WhiteHawk Income from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, WhiteHawk Income has a consensus rating of "Moderate Buy" and an average target price of $32.40.

WhiteHawk Income Trading Down 1.9%

The stock has a 50 day moving average price of $26.74.

WhiteHawk Income Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 24th were paid a $0.61 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.44 annualized dividend and a dividend yield of 9.7%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new position in shares of WhiteHawk Income during the second quarter valued at $10,215,000. Alyeska Investment Group L.P. purchased a new position in shares of WhiteHawk Income in the 2nd quarter worth about $6,955,000. BlueCrest Capital Management Ltd bought a new position in WhiteHawk Income in the 2nd quarter worth about $3,756,000. Finally, Readystate Asset Management LP purchased a new stake in WhiteHawk Income during the 2nd quarter valued at about $696,000.

About WhiteHawk Income

WhiteHawk Income Corporation NYSE: WHK is a closed-end investment company focused on generating current income through investments in privately held, middle-market businesses. The company primarily invests in debt securities, including senior secured loans and other credit instruments.

Its investment portfolio is generally designed to provide financing to companies across a range of industries, with an emphasis on loans that may offer contractual interest payments and security interests in the borrowers' assets.

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.