Raymond James Financial Inc. Acquires Shares of 42,025 WhiteHorse Finance, Inc. (NASDAQ:WHF)

Raymond James Financial Inc. purchased a new position in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 42,025 shares of the investment management company's stock, valued at approximately $407,000. Raymond James Financial Inc. owned about 0.18% of WhiteHorse Finance as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Tidal Investments LLC grew its stake in WhiteHorse Finance by 7.4% in the 3rd quarter. Tidal Investments LLC now owns 48,350 shares of the investment management company's stock valued at $559,000 after buying an additional 3,330 shares during the last quarter. Sound Income Strategies LLC increased its stake in shares of WhiteHorse Finance by 7.8% in the fourth quarter. Sound Income Strategies LLC now owns 965,296 shares of the investment management company's stock worth $9,344,000 after purchasing an additional 70,234 shares during the period. Blue Trust Inc. boosted its stake in WhiteHorse Finance by 23.7% during the 4th quarter. Blue Trust Inc. now owns 47,000 shares of the investment management company's stock valued at $455,000 after purchasing an additional 9,000 shares during the period. Independent Advisor Alliance acquired a new stake in shares of WhiteHorse Finance in the fourth quarter worth $735,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of WhiteHorse Finance by 2.5% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 60,839 shares of the investment management company's stock worth $589,000 after purchasing an additional 1,486 shares during the period. Institutional investors and hedge funds own 13.20% of the company's stock.

WhiteHorse Finance Price Performance

NASDAQ WHF traded down $0.05 during trading hours on Tuesday, reaching $9.28. 109,125 shares of the company's stock were exchanged, compared to its average volume of 92,604. The firm has a fifty day moving average of $9.57 and a 200-day moving average of $10.19. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.19. WhiteHorse Finance, Inc. has a one year low of $8.44 and a one year high of $13.44. The stock has a market cap of $215.70 million, a PE ratio of 20.62 and a beta of 0.84.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its earnings results on Monday, May 12th. The investment management company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.04). The business had revenue of $18.80 million during the quarter, compared to analyst estimates of $19.98 million. WhiteHorse Finance had a net margin of 10.65% and a return on equity of 12.86%. On average, equities research analysts predict that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Thursday, June 19th will be given a $0.385 dividend. This represents a $1.54 annualized dividend and a yield of 16.59%. The ex-dividend date is Wednesday, June 18th. WhiteHorse Finance's payout ratio is presently 327.66%.

Insiders Place Their Bets

In other news, Director John Bolduc purchased 22,360 shares of the business's stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average price of $8.94 per share, with a total value of $199,898.40. Following the completion of the purchase, the director now directly owns 237,885 shares of the company's stock, valued at $2,126,691.90. The trade was a 10.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. dropped their price objective on shares of WhiteHorse Finance from $9.50 to $9.00 and set an "underweight" rating for the company in a research note on Monday, March 10th.

WhiteHorse Finance Profile

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.