WhiteHorse Finance, Inc. (NASDAQ:WHF – Get Free Report) announced a quarterly dividend on Monday, August 10th. Shareholders of record on Monday, September 21st will be paid a dividend of 0.25 per share by the investment management company on Monday, October 5th. This represents a c) dividend on an annualized basis and a yield of 14.9%. The ex-dividend date is Monday, September 21st.
WhiteHorse Finance has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a dividend payout ratio of 87.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect WhiteHorse Finance to earn $0.96 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 104.2%.
WhiteHorse Finance Stock Performance
NASDAQ WHF opened at $6.71 on Tuesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average is $6.55 and its two-hundred day moving average is $6.89. WhiteHorse Finance has a 12-month low of $6.07 and a 12-month high of $8.97. The stock has a market capitalization of $144.13 million, a price-to-earnings ratio of 16.37 and a beta of 0.38.
Insider Buying and Selling
In other news, CEO Stuart D. Aronson acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was purchased at an average cost of $6.41 per share, with a total value of $96,150.00. Following the purchase, the chief executive officer directly owned 127,000 shares of the company’s stock, valued at approximately $814,070. This trade represents a 13.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Bolduc acquired 15,380 shares of WhiteHorse Finance stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average cost of $6.49 per share, with a total value of $99,816.20. Following the completion of the acquisition, the director owned 317,297 shares of the company’s stock, valued at $2,059,257.53. The trade was a 5.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders purchased 94,940 shares of company stock worth $627,568. Insiders own 3.80% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Lalia Capital LLC acquired a new stake in WhiteHorse Finance in the 4th quarter valued at about $4,628,000. CastleKnight Management LP acquired a new position in WhiteHorse Finance during the fourth quarter worth about $2,033,000. Two Sigma Investments LP lifted its holdings in shares of WhiteHorse Finance by 27.5% in the third quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock valued at $1,599,000 after purchasing an additional 49,893 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of WhiteHorse Finance by 92.0% in the second quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after purchasing an additional 88,659 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of WhiteHorse Finance in the fourth quarter valued at approximately $929,000. Institutional investors and hedge funds own 13.20% of the company’s stock.
About WhiteHorse Finance
WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.
The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.
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