WhiteHawk Income (NYSE:WHK) Reaches New 1-Year Low – Here’s What Happened

WhiteHawk Income Corp. (NYSE:WHK) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $24.01 and last traded at $24.1090, with a volume of 74,784 shares. The stock had previously closed at $25.04.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WHK shares. Raymond James Financial cut their price objective on shares of WhiteHawk Income from $37.00 to $35.00 and set a “strong-buy” rating for the company in a report on Friday, October 2nd. Wall Street Zen lowered shares of WhiteHawk Income from a “hold” rating to a “sell” rating in a research note on Saturday, October 31st. Weiss Ratings started coverage on WhiteHawk Income in a research report on Monday, August 31st. They set a “sell (e)” rating on the stock. Stifel Nicolaus initiated coverage on WhiteHawk Income in a research note on Thursday, September 10th. They issued a “buy” rating and a $32.00 price target for the company. Finally, Zacks Research upgraded WhiteHawk Income from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteHawk Income presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

WhiteHawk Income Trading Up 2.1%

The company’s 50-day moving average is $26.37. The firm has a market cap of $675.82 million and a PE ratio of -98.14. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.18.

WhiteHawk Income Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 24th were given a dividend of $0.61 per share. The ex-dividend date was Monday, August 24th. This represents a $2.44 dividend on an annualized basis and a yield of 9.9%. WhiteHawk Income’s dividend payout ratio is currently -176.00%.

Hedge Funds Weigh In On WhiteHawk Income

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in shares of WhiteHawk Income during the 2nd quarter worth about $10,215,000. Alyeska Investment Group L.P. purchased a new position in WhiteHawk Income in the 2nd quarter valued at about $6,955,000. BlueCrest Capital Management Ltd purchased a new position in WhiteHawk Income in the 2nd quarter valued at about $3,756,000. Readystate Asset Management LP acquired a new stake in WhiteHawk Income in the 2nd quarter worth about $696,000. Finally, Alpha Wealth Funds LLC acquired a new stake in WhiteHawk Income in the 3rd quarter worth about $249,000.

About WhiteHawk Income

WhiteHawk Income (NYSE:WHK) is a business development company that invests in privately owned, middle-market businesses. The company seeks to generate current income primarily through investments in debt securities, including senior secured loans, second-lien loans, unitranche financing and other forms of private credit.

WhiteHawk Income may also make equity investments in portfolio companies, giving it the potential to participate in their long-term growth. Its investment strategy is focused largely on U.S.