WhiteHorse Finance (NASDAQ:WHF) Stock Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• WhiteHorse Finance shares rose 5.5%, trading as high as $7.44 and moving above their 200-day average of $6.98.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and a consensus price target of $7.25, despite target increases from B. Riley and JPMorgan.
• The company reported quarterly EPS and revenue below estimates but declared a $0.25 quarterly dividend, representing a 13.6% annualized yield; its payout ratio is 126.58%.

WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.98 and traded as high as $7.44. WhiteHorse Finance shares last traded at $7.33, with a volume of 278,594 shares changing hands.

Analysts Set New Price Targets

WHF has been the subject of a number of analyst reports. B. Riley Financial boosted their price target on WhiteHorse Finance from $7.50 to $8.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Weiss Ratings restated a "sell (d+)" rating on shares of WhiteHorse Finance in a research note on Friday, August 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of WhiteHorse Finance from $6.00 to $6.50 and gave the company an "underweight" rating in a research report on Wednesday, August 19th. Two equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $7.25.

WhiteHorse Finance Trading Up 5.5%

The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market capitalization of $157.42 million, a P/E ratio of 9.28 and a beta of 0.38. The firm has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $6.98.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.03). WhiteHorse Finance had a return on equity of 8.94% and a net margin of 26.88%.The company had revenue of $14.37 million for the quarter, compared to analyst estimates of $15.66 million. On average, equities research analysts expect that WhiteHorse Finance, Inc. will post 0.97 EPS for the current fiscal year.

WhiteHorse Finance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 13.6%. The ex-dividend date is Monday, September 21st. WhiteHorse Finance's payout ratio is presently 126.58%.

Insider Buying and Selling

In other news, Director John Bolduc acquired 15,380 shares of WhiteHorse Finance stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $6.49 per share, with a total value of $99,816.20. Following the completion of the purchase, the director owned 317,297 shares of the company's stock, valued at $2,059,257.53. This represents a 5.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On WhiteHorse Finance

Large investors have recently made changes to their positions in the company. Lalia Capital LLC purchased a new stake in shares of WhiteHorse Finance in the 2nd quarter valued at approximately $4,776,000. Bank of America Corp DE purchased a new position in WhiteHorse Finance during the 2nd quarter worth approximately $1,240,000. Legal & General Group Plc purchased a new position in WhiteHorse Finance during the 2nd quarter worth approximately $1,172,000. BlackRock Inc. acquired a new stake in WhiteHorse Finance during the 2nd quarter valued at $477,000. Finally, Gables Capital Management Inc. acquired a new stake in WhiteHorse Finance during the 2nd quarter valued at $294,000. Institutional investors and hedge funds own 13.20% of the company's stock.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc NASDAQ: WHF is a business development company that provides financing to privately owned, primarily middle-market companies. The company invests in businesses across a range of industries, with an emphasis on generating current income and, to a lesser extent, long-term capital appreciation.

WhiteHorse Finance's investment portfolio generally consists of senior secured loans, subordinated debt and other structured investments. It may also make equity investments in portfolio companies.

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