WhiteHorse Finance (NASDAQ:WHF) Releases Earnings Results, Misses Expectations By $0.03 EPS

WhiteHorse Finance (NASDAQ:WHF) posted its quarterly earnings results on Monday. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03), Zacks reports. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%.

WhiteHorse Finance Stock Performance

Shares of WhiteHorse Finance stock opened at $7.11 on Monday. The firm has a market cap of $165.26 million, a PE ratio of 47.40 and a beta of 0.79. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.32. WhiteHorse Finance has a 52 week low of $6.53 and a 52 week high of $11.51. The business’s fifty day simple moving average is $7.54 and its 200-day simple moving average is $8.46.

WhiteHorse Finance Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Friday, October 31st will be given a $0.035 dividend. The ex-dividend date is Friday, October 31st. WhiteHorse Finance’s payout ratio is currently 1,026.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in WhiteHorse Finance during the second quarter worth about $368,000. Bank of America Corp DE raised its stake in shares of WhiteHorse Finance by 92.0% in the 2nd quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after acquiring an additional 88,659 shares during the period. Finally, Oxford Asset Management LLP acquired a new position in shares of WhiteHorse Finance in the 2nd quarter worth approximately $105,000. Institutional investors and hedge funds own 13.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded WhiteHorse Finance to a “hold” rating in a research report on Friday, August 8th. JPMorgan Chase & Co. reduced their price objective on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating on the stock in a research report on Wednesday, October 1st. Zacks Research upgraded WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Finally, B. Riley cut their target price on WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $9.17.

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.