WhiteHorse Finance (NASDAQ:WHF) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

WhiteHorse Finance, Inc. (NASDAQ:WHF)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.71 and traded as low as $6.79. WhiteHorse Finance shares last traded at $7.04, with a volume of 265,686 shares.

Wall Street Analyst Weigh In

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

WhiteHorse Finance Stock Performance

The firm’s 50-day moving average price is $7.97 and its 200-day moving average price is $8.71. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a market cap of $163.61 million, a P/E ratio of 46.94 and a beta of 0.75.

WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The company had revenue of $18.84 million for the quarter, compared to the consensus estimate of $19.33 million. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%. Sell-side analysts expect that WhiteHorse Finance, Inc. will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, October 31st will be given a dividend of $0.035 per share. The ex-dividend date is Friday, October 31st. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 1,026.67%.

Hedge Funds Weigh In On WhiteHorse Finance

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WHF. Blue Trust Inc. grew its holdings in WhiteHorse Finance by 11.9% during the 3rd quarter. Blue Trust Inc. now owns 75,437 shares of the investment management company’s stock valued at $522,000 after buying an additional 8,000 shares in the last quarter. Oxford Asset Management LLP bought a new position in shares of WhiteHorse Finance during the 2nd quarter valued at approximately $105,000. Bank of America Corp DE grew 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. Marshall Wace LLP bought a new stake in WhiteHorse Finance in the second quarter worth $368,000. Finally, Legal & General Group Plc raised its stake in WhiteHorse Finance by 4.4% during the second quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock valued at $1,368,000 after purchasing an additional 6,560 shares in the last quarter. 13.20% of the stock is owned by institutional investors.

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.