WhiteHorse Finance (NASDAQ:WHF) CEO Stuart Aronson Buys 20,000 Shares

WhiteHorse Finance, Inc. (NASDAQ:WHF) CEO Stuart Aronson acquired 20,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was acquired at an average price of $6.67 per share, for a total transaction of $133,400.00. Following the completion of the transaction, the chief executive officer directly owned 100,000 shares of the company’s stock, valued at approximately $667,000. This represents a 25.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WhiteHorse Finance Price Performance

Shares of WhiteHorse Finance stock traded up $0.04 during trading hours on Tuesday, hitting $6.62. The company’s stock had a trading volume of 104,847 shares, compared to its average volume of 97,082. The business has a 50 day moving average price of $7.36 and a two-hundred day moving average price of $7.11. WhiteHorse Finance, Inc. has a 12-month low of $6.07 and a 12-month high of $9.66. The company has a market cap of $143.06 million, a PE ratio of 16.15 and a beta of 0.41. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.23 and a current ratio of 2.23.

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). The business had revenue of $15.90 million during the quarter, compared to analysts’ expectations of $16.35 million. WhiteHorse Finance had a net margin of 13.46% and a return on equity of 9.47%. Analysts expect that WhiteHorse Finance, Inc. will post 1.03 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Thursday, May 21st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 15.1%. The ex-dividend date is Thursday, May 21st. WhiteHorse Finance’s payout ratio is currently 243.90%.

Institutional Investors Weigh In On WhiteHorse Finance

Hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its position in shares of WhiteHorse Finance by 35.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 24,457 shares of the investment management company’s stock worth $169,000 after buying an additional 6,460 shares in the last quarter. Citadel Advisors LLC raised its position in WhiteHorse Finance by 190.8% during the third quarter. Citadel Advisors LLC now owns 21,418 shares of the investment management company’s stock valued at $148,000 after purchasing an additional 45,018 shares during the period. HRT Financial LP raised its position in WhiteHorse Finance by 16.5% during the fourth quarter. HRT Financial LP now owns 19,922 shares of the investment management company’s stock valued at $138,000 after purchasing an additional 2,815 shares during the period. Osaic Holdings Inc. raised its position in WhiteHorse Finance by 43.7% during the fourth quarter. Osaic Holdings Inc. now owns 18,634 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 5,665 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in WhiteHorse Finance during the fourth quarter valued at approximately $125,000. 13.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded WhiteHorse Finance from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, May 19th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $7.75.

WhiteHorse Finance Company 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.