JPMorgan Chase & Co. Lowers WhiteHorse Finance (NASDAQ:WHF) Price Target to $11.50

WhiteHorse Finance (NASDAQ:WHF) had its target price decreased by JPMorgan Chase & Co. from $12.50 to $11.50 in a report released on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 5.35% from the company’s previous close.

Separately, StockNews.com lowered WhiteHorse Finance from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, WhiteHorse Finance has a consensus rating of “Hold” and a consensus price target of $12.81.

WhiteHorse Finance Stock Performance

WHF traded down $0.04 during trading on Monday, reaching $12.15. 15,899 shares of the company were exchanged, compared to its average volume of 82,090. The stock has a market cap of $282.37 million, a P/E ratio of 14.84 and a beta of 1.30. The firm has a 50 day moving average of $12.61 and a 200 day moving average of $12.62. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.24. WhiteHorse Finance has a 52 week low of $11.48 and a 52 week high of $13.69.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings data on Wednesday, May 8th. The investment management company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $25.48 million during the quarter, compared to the consensus estimate of $24.90 million. WhiteHorse Finance had a return on equity of 13.40% and a net margin of 18.40%. On average, sell-side analysts forecast that WhiteHorse Finance will post 1.8 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Anthony Tamer sold 1,000,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $12.15, for a total value of $12,150,000.00. Following the completion of the sale, the insider now owns 3,976,258 shares in the company, valued at $48,311,534.70. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On WhiteHorse Finance

Several hedge funds have recently modified their holdings of WHF. International Assets Investment Management LLC lifted its holdings in shares of WhiteHorse Finance by 1,130.0% during the fourth quarter. International Assets Investment Management LLC now owns 2,460 shares of the investment management company’s stock valued at $30,000 after purchasing an additional 2,260 shares during the last quarter. EntryPoint Capital LLC acquired a new position in WhiteHorse Finance during the first quarter valued at $39,000. Cape Investment Advisory Inc. acquired a new position in WhiteHorse Finance during the fourth quarter valued at $89,000. Raymond James Financial Services Advisors Inc. acquired a new position in WhiteHorse Finance during the fourth quarter valued at $168,000. Finally, CANADA LIFE ASSURANCE Co raised its position in WhiteHorse Finance by 19.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 18,292 shares of the investment management company’s stock valued at $227,000 after buying an additional 3,013 shares during the period. 13.20% of the stock is owned by hedge funds and other institutional investors.

About WhiteHorse Finance

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.