WhiteHorse Finance (NASDAQ:WHF) Given New $6.50 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised its price target for WhiteHorse Finance from $6.00 to $6.50 but maintained an “underweight” rating, implying 10.23% downside from the prior close.
• WhiteHorse Finance reported quarterly EPS of $0.22, missing the $0.25 consensus estimate, while revenue of $15.29 million also fell short of expectations. Analysts have a consensus “Reduce” rating and a $7.25 target price.
• The stock rose 2.7% to $7.24 during Wednesday trading. Insiders purchased 94,940 shares worth approximately $627,568 in the past quarter, while institutional investors own 13.2% of the company.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) had its target price raised by stock analysts at JPMorgan Chase & Co. from $6.00 to $6.50 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the investment management company's stock. JPMorgan Chase & Co.'s price objective would suggest a potential downside of 10.23% from the stock's previous close.

A number of other brokerages have also weighed in on WHF. B. Riley Financial upped their target price on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Weiss Ratings downgraded WhiteHorse Finance from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, June 2nd. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, WhiteHorse Finance has a consensus rating of "Reduce" and a consensus target price of $7.25.

WhiteHorse Finance Trading Up 2.7%

NASDAQ WHF traded up $0.19 during trading on Wednesday, reaching $7.24. 62,058 shares of the stock traded hands, compared to its average volume of 95,654. The stock's 50-day moving average price is $6.59 and its 200 day moving average price is $6.90. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.29. The firm has a market cap of $155.51 million, a price-to-earnings ratio of 9.18 and a beta of 0.38. WhiteHorse Finance has a fifty-two week low of $6.07 and a fifty-two week high of $8.97.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $15.29 million during the quarter, compared to analyst estimates of $15.66 million. WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. Analysts predict that WhiteHorse Finance will post 0.97 EPS for the current year.

Insider Transactions at WhiteHorse Finance

In related news, CEO Stuart D. Aronson bought 20,000 shares of the company's stock in a transaction dated Thursday, May 21st. The stock was purchased at an average price of $6.67 per share, with a total value of $133,400.00. Following the completion of the acquisition, the chief executive officer owned 100,000 shares of the company's stock, valued at $667,000. The trade was a 25.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Bolduc acquired 15,380 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of $6.49 per share, with a total value of $99,816.20. Following the completion of the transaction, the director owned 317,297 shares in the company, valued at $2,059,257.53. This represents a 5.09% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders acquired 94,940 shares of company stock worth $627,568. Company insiders own 3.80% of the company's stock.

Institutional Investors Weigh In On WhiteHorse Finance

Institutional investors have recently added to or reduced their stakes in the business. Lalia Capital LLC acquired a new position in shares of WhiteHorse Finance during the second quarter worth $4,776,000. CastleKnight Management LP bought a new stake in shares of WhiteHorse Finance in the 4th quarter valued at about $2,033,000. Two Sigma Investments LP increased its stake in shares of WhiteHorse Finance by 27.5% in the third quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company's stock valued at $1,599,000 after buying an additional 49,893 shares during the period. Bank of America Corp DE acquired a new stake in shares of WhiteHorse Finance in the second quarter valued at about $1,240,000. Finally, Legal & General Group Plc bought a new position in shares of WhiteHorse Finance during the second quarter worth about $1,172,000. 13.20% of the stock is owned by institutional investors.

About WhiteHorse Finance

WhiteHorse Finance Corporation NASDAQ: WHF is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm's primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company's investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.

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