Fortitude Advisory Group L.L.C. Lowers Stake in WhiteHorse Finance, Inc. (NASDAQ:WHF)

Fortitude Advisory Group L.L.C. reduced its holdings in shares of WhiteHorse Finance, Inc. (NASDAQ:WHFGet Rating) by 60.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,830 shares of the investment management company’s stock after selling 4,338 shares during the period. Fortitude Advisory Group L.L.C.’s holdings in WhiteHorse Finance were worth $43,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of WHF. Great West Life Assurance Co. Can increased its stake in WhiteHorse Finance by 17.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 6,167 shares of the investment management company’s stock valued at $99,000 after purchasing an additional 937 shares in the last quarter. Royal Bank of Canada grew its stake in shares of WhiteHorse Finance by 10.1% in the first quarter. Royal Bank of Canada now owns 10,885 shares of the investment management company’s stock worth $164,000 after acquiring an additional 998 shares during the period. Cornerstone Advisory LLC bought a new stake in shares of WhiteHorse Finance in the fourth quarter worth approximately $30,000. Advisors Asset Management Inc. grew its stake in shares of WhiteHorse Finance by 3.3% in the fourth quarter. Advisors Asset Management Inc. now owns 275,462 shares of the investment management company’s stock worth $4,270,000 after acquiring an additional 8,762 shares during the period. Finally, AE Wealth Management LLC bought a new stake in shares of WhiteHorse Finance in the first quarter worth approximately $158,000. 12.16% of the stock is owned by hedge funds and other institutional investors.

WhiteHorse Finance Stock Performance

Shares of NASDAQ WHF opened at $13.44 on Friday. The firm has a 50 day moving average of $14.20 and a 200 day moving average of $14.30. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.22. The firm has a market capitalization of $312.35 million, a price-to-earnings ratio of 12.11 and a beta of 1.20. WhiteHorse Finance, Inc. has a 12-month low of $12.35 and a 12-month high of $16.22.

WhiteHorse Finance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Tuesday, September 20th will be issued a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a yield of 10.57%. The ex-dividend date of this dividend is Monday, September 19th. WhiteHorse Finance’s dividend payout ratio is currently 127.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WHF. TheStreet upgraded shares of WhiteHorse Finance from a “c” rating to a “b-” rating in a research note on Monday, June 6th. StockNews.com upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Hovde Group lifted their price target on shares of WhiteHorse Finance to $15.00 in a research note on Monday, August 15th. JPMorgan Chase & Co. lowered shares of WhiteHorse Finance from a “neutral” rating to an “underweight” rating and set a $14.00 target price for the company. in a research report on Tuesday, September 6th. They noted that the move was a valuation call. Finally, Raymond James cut their target price on shares of WhiteHorse Finance from $16.00 to $15.50 and set an “outperform” rating for the company in a research report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, WhiteHorse Finance presently has a consensus rating of “Hold” and an average price target of $14.83.

About WhiteHorse Finance

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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 prefers to invest in United States. It typically invests between $5 million to $25 million in companies having enterprise value of between $50 million and $350 million.

Further Reading

Institutional Ownership by Quarter for WhiteHorse Finance (NASDAQ:WHF)

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