WhiteHawk Income (NYSE:WHK) Shares Gap Down - What's Next?

Key Points

• WhiteHawk Income shares gapped down, opening at $27.19 versus a prior close of $28.66 and last trading near $27.41 on relatively light volume.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $32.40; Raymond James recently raised its target to $37 and issued a “strong-buy” rating.
• The company pays a quarterly dividend of $0.61 per share, equivalent to $2.44 annually and an indicated 8.9% yield. Several institutional investors, including Citadel Advisors and Alyeska Investment Group, recently established positions.

WhiteHawk Income Corp. (NYSE:WHK - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.66, but opened at $27.19. WhiteHawk Income shares last traded at $27.4050, with a volume of 2,882 shares changing hands.

Analyst Ratings Changes

WHK has been the subject of several recent analyst reports. Raymond James Financial lifted their price target on WhiteHawk Income from $34.00 to $37.00 and gave the company a "strong-buy" rating in a report on Wednesday, September 2nd. Stephens started coverage on shares of WhiteHawk Income in a report on Monday, July 6th. They set an "overweight" rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on shares of WhiteHawk Income in a report on Monday, July 6th. They issued a "neutral" rating and a $28.00 target price for the company. Zacks Research raised shares of WhiteHawk Income to a "hold" rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of WhiteHawk Income from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.40.

WhiteHawk Income Stock Up 0.7%

The firm has a fifty day moving average price of $26.66.

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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend was Monday, August 24th.

Institutional Investors Weigh In On WhiteHawk Income

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

WhiteHawk Income Company Profile

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.

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