WhiteHorse Finance Inc (NASDAQ:WHF) Sees Large Decline in Short Interest

WhiteHorse Finance Inc (NASDAQ:WHF) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 42,000 shares, a drop of 28.8% from the July 31st total of 59,000 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average daily trading volume, of 87,700 shares, the days-to-cover ratio is currently 0.5 days.

In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 229,328 shares of WhiteHorse Finance stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $14.00, for a total transaction of $3,210,592.00. Following the completion of the sale, the insider now directly owns 6,026 shares of the company’s stock, valued at approximately $84,364. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kevin Francis Burke bought 3,000 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were purchased at an average cost of $14.00 per share, with a total value of $42,000.00. Following the completion of the transaction, the director now owns 7,530 shares in the company, valued at $105,420. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advantage Investment Management LLC boosted its position in WhiteHorse Finance by 9.1% during the second quarter. Advantage Investment Management LLC now owns 19,890 shares of the investment management company’s stock valued at $273,000 after purchasing an additional 1,653 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in WhiteHorse Finance by 13.3% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,195 shares of the investment management company’s stock valued at $230,000 after purchasing an additional 1,907 shares during the last quarter. Advisor Group Inc. raised its holdings in WhiteHorse Finance by 34.6% in the second quarter. Advisor Group Inc. now owns 14,134 shares of the investment management company’s stock worth $195,000 after purchasing an additional 3,630 shares in the last quarter. Sound Income Strategies LLC bought a new position in WhiteHorse Finance in the second quarter worth about $69,000. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in WhiteHorse Finance by 45.0% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 18,728 shares of the investment management company’s stock worth $258,000 after purchasing an additional 5,810 shares in the last quarter. Hedge funds and other institutional investors own 16.87% of the company’s stock.



WHF has been the topic of several research reports. Raymond James assumed coverage on WhiteHorse Finance in a research note on Tuesday, June 18th. They set an “outperform” rating and a $16.00 price target on the stock. Oppenheimer lowered shares of WhiteHorse Finance from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. BidaskClub lowered shares of WhiteHorse Finance from a “hold” rating to a “sell” rating in a research note on Tuesday, July 30th. B. Riley set a $15.00 target price on shares of WhiteHorse Finance and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, CIBC reissued a “market perform” rating on shares of WhiteHorse Finance in a research report on Thursday, August 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. WhiteHorse Finance presently has a consensus rating of “Hold” and an average target price of $14.63.

WhiteHorse Finance stock traded up $0.31 during mid-day trading on Wednesday, reaching $13.84. 70,503 shares of the company were exchanged, compared to its average volume of 63,234. The business has a fifty day moving average of $13.40 and a 200 day moving average of $13.99. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.89 and a current ratio of 1.89. The firm has a market cap of $275.73 million, a P/E ratio of 9.23 and a beta of 0.61. WhiteHorse Finance has a 12-month low of $11.89 and a 12-month high of $15.00.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Wednesday, August 7th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. WhiteHorse Finance had a return on equity of 9.62% and a net margin of 62.01%. The business had revenue of $15.98 million for the quarter, compared to analysts’ expectations of $16.08 million. Sell-side analysts predict that WhiteHorse Finance will post 1.44 EPS for the current year.

WhiteHorse Finance Company Profile

WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.

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