Raymond James Reaffirms Market Perform Rating for WhiteHorse Finance (NASDAQ:WHF)

Raymond James reissued their market perform rating on shares of WhiteHorse Finance (NASDAQ:WHF - Free Report) in a research note published on Friday morning, Marketbeat.com reports.

A number of other analysts also recently commented on WHF. StockNews.com raised WhiteHorse Finance from a "hold" rating to a "buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price objective on shares of 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, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, WhiteHorse Finance currently has an average rating of "Hold" and a consensus target price of $12.75.

WhiteHorse Finance Stock Performance

Shares of WhiteHorse Finance stock traded down $0.53 during trading on Friday, hitting $11.07. 204,738 shares of the stock were exchanged, compared to its average volume of 82,028. The stock has a market cap of $257.27 million, a PE ratio of 11.72 and a beta of 1.28. The stock's fifty day moving average is $11.77 and its 200 day moving average is $12.21. WhiteHorse Finance has a 12 month low of $10.95 and a 12 month high of $13.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.47 and a current ratio of 1.47.

WhiteHorse Finance (NASDAQ:WHF - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $23.48 million for the quarter, compared to the consensus estimate of $24.72 million. WhiteHorse Finance had a net margin of 22.73% and a return on equity of 13.12%. During the same quarter in the prior year, the firm earned $0.46 earnings per share. As a group, sell-side analysts anticipate that WhiteHorse Finance will post 1.7 EPS for the current year.

WhiteHorse Finance Increases Dividend

The company also recently announced a -- dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 20th will be paid a dividend of $0.385 per share. This is an increase from WhiteHorse Finance's previous -- dividend of $0.05. This represents a yield of 13.9%. The ex-dividend date is Friday, December 20th. WhiteHorse Finance's payout ratio is 155.56%.

Insider Activity

In related news, Director John Bolduc acquired 12,673 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $11.48 per share, with a total value of $145,486.04. Following the completion of the transaction, the director now owns 224,326 shares of the company's stock, valued at approximately $2,575,262.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WhiteHorse Finance

A number of hedge funds have recently added to or reduced their stakes in WHF. Sound Income Strategies LLC grew its position in WhiteHorse Finance by 4.7% in the third quarter. Sound Income Strategies LLC now owns 895,062 shares of the investment management company's stock worth $10,356,000 after acquiring an additional 39,839 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of WhiteHorse Finance by 16.0% in the second quarter. Atria Wealth Solutions Inc. now owns 64,275 shares of the investment management company's stock valued at $813,000 after purchasing an additional 8,866 shares during the last quarter. Marshall Wace LLP bought a new position in WhiteHorse Finance in the 2nd quarter worth approximately $647,000. Blue Trust Inc. lifted its holdings in shares of WhiteHorse Finance by 15.2% during the third quarter. Blue Trust Inc. now owns 38,000 shares of the investment management company's stock worth $466,000 after buying an additional 5,000 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its position in shares of WhiteHorse Finance by 3.1% in the second quarter. Sanders Morris Harris LLC now owns 32,244 shares of the investment management company's stock valued at $396,000 after acquiring an additional 956 shares during the period. Institutional investors and hedge funds 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.