WhiteHorse Finance (NASDAQ:WHF) Upgraded to Buy by StockNews.com

WhiteHorse Finance (NASDAQ:WHF) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

A number of other equities analysts have also recently issued reports on WHF. JPMorgan Chase & Co. dropped their target price on WhiteHorse Finance from $12.00 to $11.50 and set an “underweight” rating for the company in a report on Friday, March 1st. B. Riley cut WhiteHorse Finance from a “buy” rating to a “neutral” rating and set a $13.25 target price for the company. in a report on Monday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, WhiteHorse Finance has a consensus rating of “Hold” and a consensus target price of $12.81.

WhiteHorse Finance Stock Performance

NASDAQ:WHF traded down $0.15 during mid-day trading on Thursday, hitting $12.40. 78,163 shares of the company’s stock traded hands, compared to its average volume of 49,514. The firm has a 50 day moving average of $12.59 and a two-hundred day moving average of $12.50. WhiteHorse Finance has a 12 month low of $11.13 and a 12 month high of $13.69. The firm has a market capitalization of $288.18 million, a price-to-earnings ratio of 14.09 and a beta of 1.28. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 1.22.

WhiteHorse Finance (NASDAQ:WHF) last posted its quarterly earnings results on Thursday, February 29th. The investment management company reported $0.46 EPS for the quarter, meeting the consensus estimate of $0.46. The firm had revenue of $25.63 million during the quarter, compared to analysts’ expectations of $25.33 million. WhiteHorse Finance had a return on equity of 13.20% and a net margin of 19.77%. On average, equities analysts forecast that WhiteHorse Finance will post 1.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC raised its stake in WhiteHorse Finance by 1,085.5% during the 4th quarter. Millennium Management LLC now owns 165,410 shares of the investment management company’s stock worth $2,159,000 after buying an additional 151,457 shares during the period. LPL Financial LLC acquired a new stake in WhiteHorse Finance during the 2nd quarter worth $785,000. Susquehanna International Group LLP acquired a new stake in WhiteHorse Finance during the 4th quarter worth $649,000. Jane Street Group LLC acquired a new stake in WhiteHorse Finance during the 4th quarter worth $600,000. Finally, Sound Income Strategies LLC raised its stake in WhiteHorse Finance by 6.3% during the 4th quarter. Sound Income Strategies LLC now owns 753,932 shares of the investment management company’s stock worth $9,273,000 after buying an additional 44,420 shares during the period. 13.20% of the stock is currently owned by 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.