WhiteHorse Finance, Inc. (NASDAQ:WHF) Sees Large Growth in Short Interest

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 210,300 shares, a growth of 22.5% from the April 30th total of 171,700 shares. Based on an average daily volume of 92,700 shares, the days-to-cover ratio is currently 2.3 days. Approximately 1.2% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating for the company in a research note on Monday, March 10th.

WhiteHorse Finance Trading Up 1.1%

NASDAQ:WHF opened at $9.08 on Wednesday. The stock has a market capitalization of $211.05 million, a price-to-earnings ratio of 20.18 and a beta of 0.84. WhiteHorse Finance has a 52 week low of $8.44 and a 52 week high of $13.28. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.19. The firm has a 50 day moving average of $9.29 and a 200 day moving average of $9.95.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings data on Monday, May 12th. The investment management company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $18.80 million for the quarter, compared to analysts’ expectations of $19.98 million. WhiteHorse Finance had a net margin of 10.65% and a return on equity of 12.86%. As a group, sell-side analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be issued a dividend of $0.385 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 16.96%. The ex-dividend date is Wednesday, June 18th. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 394.87%.

Insider Buying and Selling

In other news, Director John Bolduc acquired 22,360 shares of the firm’s stock in a transaction dated Tuesday, April 8th. The shares were acquired at an average cost of $8.94 per share, with a total value of $199,898.40. Following the acquisition, the director now directly owns 237,885 shares of the company’s stock, valued at approximately $2,126,691.90. The trade was a 10.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On WhiteHorse Finance

A number of large investors have recently made changes to their positions in the stock. Ethos Financial Group LLC purchased a new position in WhiteHorse Finance in the 1st quarter worth $1,931,000. Millennium Management LLC raised its stake in shares of WhiteHorse Finance by 172.4% in the fourth quarter. Millennium Management LLC now owns 129,981 shares of the investment management company’s stock worth $1,258,000 after purchasing an additional 82,263 shares during the last quarter. Independent Advisor Alliance purchased a new position in shares of WhiteHorse Finance in the fourth quarter worth about $735,000. Sound Income Strategies LLC lifted its holdings in shares of WhiteHorse Finance by 5.0% during the first quarter. Sound Income Strategies LLC now owns 1,013,374 shares of the investment management company’s stock worth $9,779,000 after purchasing an additional 48,078 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in WhiteHorse Finance in the fourth quarter valued at approximately $407,000. 13.20% of the stock is owned by hedge funds and other institutional investors.

About WhiteHorse Finance

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 invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.