WhiteHorse Finance (WHF) Stock Price, News & Analysis

Company Overview

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. WhiteHorse Finance targets U.S. headquartered companies with EBITDA profiles typically exceeding $10 million, though it retains the flexibility to consider larger transactions. While the portfolio spans multiple sectors—such as healthcare, technology, business services and industrials—the firm places particular emphasis on businesses with recurring revenue streams and defensible market positions.

Established in 2016 and commencing operations following its initial public offering in early 2017, WhiteHorse Finance is externally managed by PPMG Private Markets LLC, an affiliate of Ares Management Corporation. The investment team leverages Ares’ underwriting, portfolio monitoring and credit-management capabilities to identify underwriting opportunities and actively manage risk. Headquartered in Los Angeles, with additional support from Ares offices across North America and Europe, WhiteHorse Finance combines middle-market specialization with institutional-grade resources to deliver tailored financing solutions to its portfolio companies.

Key Stats

• Today's Range: $7.59 to $7.87
• 50-Day Range: $7.62 to $9.03
• 52-Week Range: $7.59 to $12.18
• Volume: 191,154 shs
• Average Volume: 127,552 shs
• Market Capitalization: $177.11 million
• P/E Ratio: 50.80
• Dividend Yield: 20.21%
• Price Target: $10.00
• Consensus Rating: Reduce

WhiteHorse Finance Stock Analysis - MarketRank™

WhiteHorse Finance scored higher than 61% of companies evaluated by MarketBeat, and ranked 581st out of 937 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.4 / 5
• Analyst Rating: Reduce

Consensus Rating

WhiteHorse Finance has received a consensus rating of Reduce. The company's average rating score is 1.67, and is based on no buy ratings, 4 hold ratings, and 2 sell ratings.

Upside Potential

WhiteHorse Finance has a consensus price target of $10.00, representing about 31.2% upside from its current price of $7.62.

Amount of Analyst Coverage

WhiteHorse Finance has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 1.9 / 5
• Proj. Earnings Growth: -12.05%

Earnings Growth

Earnings for WhiteHorse Finance are expected to decrease by -12.05% in the coming year, from $1.66 to $1.46 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of WhiteHorse Finance is 50.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 281.23.

Price to Earnings Ratio vs. Sector

The P/E ratio of WhiteHorse Finance is 50.80, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 241.25.

Price to Book Value per Share Ratio

WhiteHorse Finance has a P/B Ratio of 0.62. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

1.24% of the float of WhiteHorse Finance has been sold short.

Short Interest Ratio / Days to Cover

WhiteHorse Finance has a short interest ratio ("days to cover") of 2.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in WhiteHorse Finance has recently decreased by 2.38%, indicating that investor sentiment is improving.

Dividend

• Score: 1.7 / 5
• Dividend Strength: Weak

Dividend Leadership

WhiteHorse Finance is a leading dividend payer. It pays a dividend yield of 19.15%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

WhiteHorse Finance has only been increasing its dividend for 3 years.

Dividend Coverage

The dividend payout ratio of WhiteHorse Finance is 1,026.67%. Payout ratios above 75% are not desirable because they may not be sustainable.

Dividend Sustainability

Based on EPS estimates, WhiteHorse Finance will have a dividend payout ratio of 105.48% in the coming year. This indicates that WhiteHorse Finance may not be able to sustain their current dividend.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.24% of the float of WhiteHorse Finance has been sold short.

Short Interest Ratio / Days to Cover

WhiteHorse Finance has a short interest ratio ("days to cover") of 2.7, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in WhiteHorse Finance has recently decreased by 2.38%, indicating that investor sentiment is improving.

News and Social Media

• Score: 1.1 / 5
• News Sentiment: N/A

Search Interest

21 people have searched for WHF on MarketBeat in the last 30 days. This is an increase of 320% compared to the previous 30 days.

MarketBeat Follows

1 people have added WhiteHorse Finance to their MarketBeat watchlist in the last 30 days.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, WhiteHorse Finance insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 2.50% of the stock of WhiteHorse Finance is held by insiders.

Percentage Held by Institutions

Only 13.20% of the stock of WhiteHorse Finance is held by institutions.

WHF Stock Analysis - Frequently Asked Questions

How have WHF shares performed this year?

WhiteHorse Finance's stock was trading at $9.68 on January 1st, 2025. Since then, WHF shares have decreased by 21.3% and is now trading at $7.62.

How were WhiteHorse Finance's earnings last quarter?

WhiteHorse Finance, Inc. (NASDAQ:WHF) released its quarterly earnings data on Thursday, August, 7th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.31 by $0.03. The investment management company had revenue of $18.84 million for the quarter, compared to analysts' expectations of $19.33 million. WhiteHorse Finance had a trailing twelve-month return on equity of 10.72% and a net margin of 4.36%.
Read the conference call transcript.

Who are WhiteHorse Finance's major shareholders?

Top institutional shareholders of WhiteHorse Finance include Sound Income Strategies LLC (4.05%), Ethos Financial Group LLC (0.88%), Bank of America Corp DE (0.80%) and Legal & General Group Plc (0.67%). Insiders that own company stock include Anthony Tamer and John Bolduc.
View institutional ownership trends.

How do I buy shares of WhiteHorse Finance?

Shares of WHF stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.

What other stocks do shareholders of WhiteHorse Finance own?

Based on aggregate information from My MarketBeat watchlists, some other companies that WhiteHorse Finance investors own include Rithm Capital (RITM), Annaly Capital Management (NLY), AGNC Investment (AGNC), Medical Properties Trust (MPW), AT&T (T), Ares Capital (ARCC) and TriplePoint Venture Growth BDC (TPVG).

Company Calendar

• Ex-Dividend for 7/3 Dividend: 6/18/2025
• Record date for 7/3 Dividend: 6/19/2025
• Dividend Payable: 7/03/2025
• Last Earnings: 8/07/2025
• Record date for 10/3 Dividend: 9/19/2025
• Ex-Dividend for 10/3 Dividend: 9/19/2025
• Today: 9/23/2025
• Dividend Payable: 10/03/2025
• Next Earnings (Estimated): 11/06/2025
• Fiscal Year End: 12/31/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: FIN - SBIC&COMMRL
• Sub-Industry: Asset Management & Custody Banks
• Current Symbol: NASDAQ:WHF
• CIK: 1552198
• Web: www.whitehorsefinance.com
• Phone: (305) 381-6999
• Fax: 305-379-2013
• Employees: N/A
• Year Founded: 1993

Price Target and Rating

• Average Price Target for WhiteHorse Finance: $10.00
• High Price Target: $12.00
• Low Price Target: $9.00
• Potential Upside/Downside: +31.2%
• Consensus Rating: Reduce
• Rating Score (0-4): 1.67
• Research Coverage: 6 Analysts

Profitability

• EPS (Trailing Twelve Months): $0.15
• Trailing P/E Ratio: 50.80
• Forward P/E Ratio: 4.59
• P/E Growth: N/A
• Net Income: $10.85 million
• Net Margins: 4.36%
• Pretax Margin: 4.36%
• Return on Equity: 10.72%
• Return on Assets: 4.51%

Debt

• Debt-to-Equity Ratio: 1.32
• Current Ratio: 1.34
• Quick Ratio: 1.34

Sales & Book Value

• Annual Sales: $92.82 million
• Price / Sales: 1.91
• Cash Flow: $1.45 per share
• Price / Cash Flow: 5.24
• Book Value: $12.31 per share
• Price / Book: 0.62

Miscellaneous

• Outstanding Shares: 23,240,000
• Free Float: 22,662,000
• Market Cap: $177.09 million
• Optionable: Optionable
• Beta: 0.80