WhiteHorse Finance (NASDAQ:WHF) Share Price Passes Below Two Hundred Day Moving Average - What's Next?

Key Points

• WhiteHorse Finance stock fell below its 200-day moving average of $9.60, trading at $8.87, indicative of a potential bearish trend.
• Wall Street has a consensus hold rating on WhiteHorse Finance, with an average target price of $10.50, although one analyst suggests selling.
• The recent quarterly dividend of $0.385 per share reflects a high yield of 17.36%, but the company has a significant dividend payout ratio of 394.87%.

WhiteHorse Finance, Inc. (NASDAQ:WHF - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.60 and traded as low as $8.85. WhiteHorse Finance shares last traded at $8.87, with a volume of 64,626 shares traded.

Wall Street Analyst Weigh In

Separately, B. Riley upgraded WhiteHorse Finance to a "hold" rating in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $10.50.

WhiteHorse Finance Trading Down 0.2%

The firm has a market capitalization of $202.07 million, a price-to-earnings ratio of 22.29 and a beta of 0.79. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 1.28. The company has a fifty day moving average price of $8.96 and a two-hundred day moving average price of $9.58.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its earnings results on Monday, May 12th. The investment management company reported $0.29 EPS 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 analysts' expectations of $19.98 million. WhiteHorse Finance had a net margin of 10.62% and a return on equity of 11.30%. As a group, research analysts forecast that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Thursday, June 19th were given a dividend of $0.385 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.54 dividend on an annualized basis and a yield of 17.7%. WhiteHorse Finance's dividend payout ratio (DPR) is 394.87%.

Hedge Funds Weigh In On WhiteHorse Finance

A number of hedge funds have recently made changes to their positions in WHF. Sound Income Strategies LLC boosted its holdings in shares of WhiteHorse Finance by 5.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,013,374 shares of the investment management company's stock valued at $9,779,000 after buying an additional 48,078 shares during the period. Two Sigma Advisers LP boosted its holdings in shares of WhiteHorse Finance by 8.5% in the 4th quarter. Two Sigma Advisers LP now owns 319,652 shares of the investment management company's stock valued at $3,094,000 after buying an additional 25,000 shares during the period. Two Sigma Investments LP boosted its holdings in shares of WhiteHorse Finance by 19.5% in the 4th quarter. Two Sigma Investments LP now owns 211,790 shares of the investment management company's stock valued at $2,050,000 after buying an additional 34,570 shares during the period. Ethos Financial Group LLC acquired a new position in shares of WhiteHorse Finance in the 1st quarter valued at about $1,931,000. Finally, Millennium Management LLC boosted its holdings in shares of WhiteHorse Finance by 172.4% in the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company's stock valued at $1,258,000 after buying an additional 82,263 shares during the period. Institutional investors and hedge funds own 13.20% of the company's stock.

WhiteHorse Finance Company 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.