Insider Buying: WhiteHorse Finance (NASDAQ:WHF) Director Acquires $48,266.40 in Stock

WhiteHorse Finance, Inc. (NASDAQ:WHF) Director John Bolduc acquired 7,140 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average price of $6.76 per share, with a total value of $48,266.40. Following the completion of the acquisition, the director owned 309,607 shares of the company’s stock, valued at $2,092,943.32. This represents a 2.36% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

John Bolduc also recently made the following trade(s):

• On Monday, June 1st, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $6.88 per share, with a total value of $49,123.20.
• On Friday, May 29th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $6.76 per share, with a total value of $48,266.40.
• On Wednesday, May 27th, John Bolduc acquired 7,140 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $6.90 per share, with a total value of $49,266.00.
• On Monday, March 16th, John Bolduc acquired 8,390 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $7.12 per share, with a total value of $59,736.80.
• On Thursday, March 12th, John Bolduc acquired 8,390 shares of WhiteHorse Finance stock. The shares were purchased at an average price of $7.14 per share, with a total value of $59,904.60.

WhiteHorse Finance Price Performance

NASDAQ:WHF opened at $6.66 on Monday. The stock has a 50-day simple moving average of $7.29 and a 200 day simple moving average of $7.10. WhiteHorse Finance, Inc. has a 52-week low of $6.07 and a 52-week high of $9.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.23 and a current ratio of 2.23. The company has a market cap of $143.92 million, a PE ratio of 16.24 and a beta of 0.37.

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

WhiteHorse Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Shareholders of record on Thursday, May 21st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 15.0%. The ex-dividend date is Thursday, May 21st. WhiteHorse Finance’s dividend payout ratio (DPR) is currently 243.90%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lalia Capital LLC acquired a new stake in shares of WhiteHorse Finance in the fourth quarter valued at approximately $4,628,000. CastleKnight Management LP acquired a new stake in shares of WhiteHorse Finance in the fourth quarter valued at approximately $2,033,000. Jane Street Group LLC acquired a new stake in shares of WhiteHorse Finance in the fourth quarter valued at approximately $929,000. Bank of America Corp DE lifted its position 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 buying an additional 88,659 shares during the last quarter. Finally, Two Sigma Investments LP lifted its position 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 buying an additional 49,893 shares during the last quarter. 13.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $7.75.

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.