WhiteHorse Finance (NASDAQ:WHF) received a $14.50 price objective from stock analysts at B. Riley in a research note issued on Friday, TipRanks reports. The firm currently has a “buy” rating on the investment management company’s stock. B. Riley’s price objective points to a potential upside of 4.24% from the stock’s current price.
Other analysts have also issued research reports about the company. Raymond James started coverage on WhiteHorse Finance in a report on Tuesday, June 18th. They issued an “outperform” rating and a $16.00 target price for the company. Oppenheimer lowered WhiteHorse Finance from an “outperform” rating to a “market perform” rating in a report on Thursday, August 8th. CIBC reissued a “market perform” rating on shares of WhiteHorse Finance in a report on Thursday, August 8th. Zacks Investment Research raised WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Friday, August 9th. Finally, BidaskClub lowered WhiteHorse Finance from a “hold” rating to a “sell” rating in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $14.50.
NASDAQ:WHF traded up $0.03 during trading hours on Friday, reaching $13.91. 1,163 shares of the company traded hands, compared to its average volume of 46,403. The business’s 50-day moving average price is $13.39 and its two-hundred day moving average price is $13.98. The stock has a market capitalization of $285.23 million, a P/E ratio of 9.30 and a beta of 0.61. WhiteHorse Finance has a 1 year low of $11.89 and a 1 year high of $15.00. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 0.78.
In related 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 transaction, the insider now directly owns 6,026 shares in the company, valued at $84,364. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in WHF. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of WhiteHorse Finance by 97.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock valued at $881,000 after acquiring an additional 30,609 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV lifted its position in shares of 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 acquiring an additional 1,907 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of WhiteHorse Finance in the first quarter valued at about $409,000. Marshall Wace LLP purchased a new position in shares of WhiteHorse Finance in the first quarter valued at about $1,241,000. Finally, Sound Income Strategies LLC purchased a new position in shares of WhiteHorse Finance in the second quarter valued at about $69,000. Institutional investors and hedge funds own 16.42% of the company’s stock.
About WhiteHorse Finance
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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