WhiteHorse Finance, Inc. (NASDAQ:WHF) Issues Earnings Results
WhiteHorse Finance, Inc. (NASDAQ:WHF) posted its earnings results on Tuesday. The investment management company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.02, MarketWatch Earnings reports. WhiteHorse Finance had a return on equity of 10.78% and a net margin of 65.58%. The firm had revenue of $14.29 million during the quarter, compared to analysts’ expectations of $12.57 million.
WhiteHorse Finance (WHF) remained flat at $13.90 on Wednesday. The stock had a trading volume of 165,706 shares. The stock has a 50 day moving average price of $13.50 and a 200-day moving average price of $13.59. WhiteHorse Finance has a 52-week low of $10.30 and a 52-week high of $14.75.
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A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of WhiteHorse Finance during the second quarter worth about $191,000. BB&T Securities LLC purchased a new position in WhiteHorse Finance during the second quarter valued at $152,000. Janney Montgomery Scott LLC boosted its position in WhiteHorse Finance by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 20,015 shares of the investment management company’s stock valued at $268,000 after buying an additional 255 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in WhiteHorse Finance during the first quarter valued at $205,000. Finally, UBS Group AG boosted its position in WhiteHorse Finance by 2.3% in the first quarter. UBS Group AG now owns 291,583 shares of the investment management company’s stock valued at $4,024,000 after buying an additional 6,584 shares during the last quarter. 11.55% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently weighed in on WHF. Zacks Investment Research cut WhiteHorse Finance from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 4th. ValuEngine raised WhiteHorse Finance from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Robert W. Baird raised WhiteHorse Finance from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a research report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $14.13.
WhiteHorse Finance Company Profile
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.
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