WhiteHorse Finance (NASDAQ:WHF) Upgraded to “Strong-Buy” by BidaskClub

BidaskClub upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a buy rating to a strong-buy rating in a research note released on Tuesday, BidAskClub reports.

WHF has been the topic of several other reports. Zacks Investment Research upgraded WhiteHorse Finance from a sell rating to a hold rating in a research report on Friday, August 9th. Oppenheimer lowered WhiteHorse Finance from an outperform rating to a market perform rating in a research report on Thursday, August 8th. B. Riley set a $14.50 price objective on WhiteHorse Finance and gave the stock a buy rating in a research report on Friday, September 13th. Raymond James assumed coverage on WhiteHorse Finance in a research report on Tuesday, June 18th. They issued an outperform rating and a $16.00 price objective on the stock. Finally, CIBC reiterated a market perform rating on shares of WhiteHorse Finance in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. WhiteHorse Finance currently has an average rating of Hold and an average target price of $14.50.

WHF opened at $13.57 on Tuesday. The stock’s 50 day simple moving average is $13.49 and its 200 day simple moving average is $13.96. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.89 and a quick ratio of 1.89. WhiteHorse Finance has a 1 year low of $11.89 and a 1 year high of $15.00. The firm has a market cap of $278.81 million, a price-to-earnings ratio of 9.05 and a beta of 0.60.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Wednesday, August 7th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, hitting 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 analyst estimates of $16.08 million. As a group, sell-side analysts anticipate that WhiteHorse Finance will post 1.44 EPS for the current year.

The firm also recently disclosed a — dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Thursday, October 31st will be given a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a dividend yield of 10.2%. WhiteHorse Finance’s dividend payout ratio is currently 94.67%.

Several hedge funds have recently modified their holdings of the company. Virtus ETF Advisers LLC bought a new stake in shares of WhiteHorse Finance in the 2nd quarter worth approximately $3,518,000. Marshall Wace LLP grew its position in shares of WhiteHorse Finance by 91.1% in the 2nd quarter. Marshall Wace LLP now owns 166,991 shares of the investment management company’s stock worth $2,296,000 after buying an additional 79,600 shares during the last quarter. Morgan Stanley grew its position in shares of WhiteHorse Finance by 28.2% in the 2nd quarter. Morgan Stanley now owns 135,834 shares of the investment management company’s stock worth $1,868,000 after buying an additional 29,902 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of WhiteHorse Finance in the 2nd quarter worth approximately $916,000. Finally, Acadian Asset Management LLC boosted its position in shares of WhiteHorse Finance by 51.8% during the second quarter. Acadian Asset Management LLC now owns 43,775 shares of the investment management company’s stock valued at $603,000 after purchasing an additional 14,944 shares in the last quarter. Hedge funds and other institutional investors 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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Analyst Recommendations for WhiteHorse Finance (NASDAQ:WHF)

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