WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 210,300 shares, a growth of 22.5% from the April 30th total of 171,700 shares. Based on an average trading volume of 92,700 shares, the short-interest ratio is currently 2.3 days. Currently, 1.2% of the shares of the stock are short sold.
Insider Activity at WhiteHorse Finance
In other news, Director John Bolduc bought 22,360 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were bought at an average cost of $8.94 per share, for a total transaction of $199,898.40. Following the completion of the transaction, the director now owns 237,885 shares of the company's stock, valued at approximately $2,126,691.90. This represents a 10.37% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Institutional Trading of WhiteHorse Finance
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Tidal Investments LLC raised its position in WhiteHorse Finance by 2.3% in the 4th quarter. Tidal Investments LLC now owns 49,460 shares of the investment management company's stock worth $479,000 after purchasing an additional 1,110 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in WhiteHorse Finance by 2.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 60,839 shares of the investment management company's stock valued at $589,000 after acquiring an additional 1,486 shares during the last quarter. LPL Financial LLC increased its stake in WhiteHorse Finance by 10.9% in the fourth quarter. LPL Financial LLC now owns 15,182 shares of the investment management company's stock worth $147,000 after purchasing an additional 1,495 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in WhiteHorse Finance by 5.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 42,772 shares of the investment management company's stock worth $414,000 after purchasing an additional 2,273 shares during the period. Finally, Commonwealth Equity Services LLC lifted its position in shares of WhiteHorse Finance by 23.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 19,418 shares of the investment management company's stock worth $188,000 after purchasing an additional 3,683 shares during the last quarter. Hedge funds and other institutional investors own 13.20% of the company's stock.
Analyst Ratings Changes
Separately, JPMorgan Chase & Co. decreased their price objective on WhiteHorse Finance from $9.50 to $9.00 and set an "underweight" rating on the stock in a report on Monday, March 10th.
Read Our Latest Analysis on WHF
WhiteHorse Finance Price Performance
Shares of WhiteHorse Finance stock traded down $0.03 during trading hours on Wednesday, reaching $9.05. The company's stock had a trading volume of 39,970 shares, compared to its average volume of 91,237. The firm has a 50 day moving average price of $9.29 and a 200-day moving average price of $9.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $210.35 million, a P/E ratio of 20.11 and a beta of 0.84. WhiteHorse Finance has a one year low of $8.44 and a one year high of $13.28.
WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The investment management company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. The company had revenue of $18.80 million for the quarter, compared to the consensus estimate of $19.98 million. On average, analysts predict that WhiteHorse Finance will post 1.66 EPS for the current year.
WhiteHorse Finance Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be given a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a dividend yield of 17.02%. The ex-dividend date of this dividend is Wednesday, June 18th. WhiteHorse Finance's dividend payout ratio is currently 394.87%.
About WhiteHorse Finance
(
Get Free Report)
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.
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