WhiteHorse Finance (NASDAQ:WHF) Stock Rating Lowered by Oppenheimer

Oppenheimer cut shares of WhiteHorse Finance (NASDAQ:WHF - Free Report) from an outperform rating to a market perform rating in a report released on Monday morning, Marketbeat Ratings reports. Oppenheimer currently has $12.00 price target on the investment management company's stock, down from their prior price target of $14.00.

Several other research firms also recently issued reports on WHF. StockNews.com downgraded shares of WhiteHorse Finance from a "buy" rating to a "hold" rating in a research note on Friday. Raymond James reaffirmed a "market perform" rating on shares of WhiteHorse Finance in a research report on Friday. Finally, JPMorgan Chase & Co. cut their price target on WhiteHorse Finance from $12.50 to $11.50 and set an "underweight" rating on the stock in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat, WhiteHorse Finance has a consensus rating of "Hold" and an average target price of $12.25.

WhiteHorse Finance Trading Down 3.0 %

Shares of NASDAQ:WHF traded down $0.33 during trading on Monday, reaching $10.74. 164,808 shares of the stock were exchanged, compared to its average volume of 82,395. WhiteHorse Finance has a 12-month low of $10.72 and a 12-month high of $13.44. The firm's 50-day moving average price is $11.75 and its 200 day moving average price is $12.18. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market cap of $249.60 million, a price-to-earnings ratio of 24.33 and a beta of 1.28.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The investment management company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.05). The business had revenue of $23.48 million for the quarter, compared to analysts' expectations of $24.72 million. WhiteHorse Finance had a return on equity of 12.68% and a net margin of 10.65%. During the same period last year, the company posted $0.46 earnings per share. On average, sell-side analysts anticipate that WhiteHorse Finance will post 1.68 earnings per share for the current fiscal year.

WhiteHorse Finance Increases Dividend

The business also recently announced a -- dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 20th will be given a $0.385 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a dividend yield of 13.9%. This is an increase from WhiteHorse Finance's previous -- dividend of $0.05. WhiteHorse Finance's payout ratio is presently 342.23%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of WHF. International Assets Investment Management LLC increased its holdings in shares of WhiteHorse Finance by 1,057.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,314 shares of the investment management company's stock valued at $27,000 after acquiring an additional 2,114 shares during the last quarter. EntryPoint Capital LLC bought a new stake in WhiteHorse Finance during the first quarter valued at $39,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of 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 worth $227,000 after purchasing an additional 3,013 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of WhiteHorse Finance by 48.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 21,986 shares of the investment management company's stock worth $270,000 after buying an additional 7,195 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of WhiteHorse Finance in the 2nd quarter worth about $357,000. Institutional investors own 13.20% of the company's stock.

WhiteHorse Finance Company Profile

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.