Lalia Capital LLC acquired a new stake in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 712,769 shares of the investment management company’s stock, valued at approximately $4,776,000. WhiteHorse Finance comprises about 2.3% of Lalia Capital LLC’s investment portfolio, making the stock its 15th biggest holding.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WHF. Advisory Services Network LLC purchased a new position in shares of WhiteHorse Finance in the third quarter worth about $26,000. Kestra Advisory Services LLC purchased a new stake in shares of WhiteHorse Finance during the 4th quarter valued at approximately $44,000. Oxford Asset Management LLP purchased a new stake in shares of WhiteHorse Finance during the 2nd quarter valued at approximately $105,000. O Shaughnessy Asset Management LLC bought a new position in WhiteHorse Finance in the 4th quarter worth approximately $88,000. Finally, Trexquant Investment LP bought a new position in WhiteHorse Finance in the 4th quarter worth approximately $108,000. Institutional investors own 13.20% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on WHF. Weiss Ratings cut shares of WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, June 2nd. B. Riley Financial raised their price target on WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on WhiteHorse Finance from $6.00 to $6.50 and gave the company an “underweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $7.25.
Insider Transactions at WhiteHorse Finance
In related news, CEO Stuart D. Aronson acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were bought at an average cost of $6.41 per share, for a total transaction of $96,150.00. Following the completion of the transaction, the chief executive officer owned 127,000 shares in the company, valued at approximately $814,070. This trade represents a 13.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Bolduc acquired 15,380 shares of the stock in a transaction dated Thursday, June 18th. The shares were bought at an average price of $6.49 per share, for a total transaction of $99,816.20. Following the transaction, the director owned 317,297 shares in the company, valued at approximately $2,059,257.53. This represents a 5.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 59,940 shares of company stock worth $397,628 over the last 90 days. Corporate insiders own 3.80% of the company’s stock.
WhiteHorse Finance Trading Up 2.0%
Shares of WhiteHorse Finance stock opened at $7.16 on Friday. The company’s 50-day moving average price is $6.62 and its 200-day moving average price is $6.91. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29. WhiteHorse Finance, Inc. has a 12-month low of $6.07 and a 12-month high of $8.97. The company has a market cap of $153.80 million, a price-to-earnings ratio of 9.06 and a beta of 0.38.
WhiteHorse Finance (NASDAQ:WHF – Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). The firm had revenue of $15.29 million for the quarter, compared to analysts’ expectations of $15.66 million. WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. On average, equities analysts expect that WhiteHorse Finance, Inc. will post 0.97 earnings per share for the current fiscal year.
WhiteHorse Finance Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Shareholders of record on Monday, September 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 14.0%. The ex-dividend date is Monday, September 21st. WhiteHorse Finance’s dividend payout ratio is currently 126.58%.
WhiteHorse Finance Profile
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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