WhiteHorse Finance (NASDAQ:WHF) Price Target Cut to $6.50 by Analysts at JPMorgan Chase & Co.

WhiteHorse Finance (NASDAQ:WHF) had its price target trimmed by JPMorgan Chase & Co. from $8.00 to $6.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an underweight rating on the investment management company’s stock.

Other equities analysts have also recently issued reports about the company. Zacks Research cut WhiteHorse Finance from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. B. Riley lowered their price target on WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 13th. Finally, LADENBURG THALM/SH SH upgraded WhiteHorse Finance to a “hold” rating in a report on Friday, August 8th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, WhiteHorse Finance presently has an average rating of “Reduce” and a consensus target price of $9.17.

WhiteHorse Finance Stock Performance

NASDAQ WHF opened at $6.60 on Wednesday. The stock has a market cap of $153.38 million, a PE ratio of 44.00 and a beta of 0.76. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.32. WhiteHorse Finance has a twelve month low of $6.57 and a twelve month high of $12.18. The stock has a fifty day simple moving average of $8.40 and a 200-day simple moving average of $8.94.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Thursday, August 7th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). The business had revenue of $18.84 million for the quarter, compared to analysts’ expectations of $19.33 million. WhiteHorse Finance had a return on equity of 10.72% and a net margin of 4.36%. Equities analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current year.

WhiteHorse Finance Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 3rd. Shareholders of record on Friday, September 19th will be given a $0.385 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $1.54 dividend on an annualized basis and a yield of 23.3%. WhiteHorse Finance’s dividend payout ratio (DPR) is currently 1,026.67%.

Institutional Investors Weigh In On WhiteHorse Finance

A number of hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC raised its position in WhiteHorse Finance by 5.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,013,374 shares of the investment management company’s stock valued at $9,779,000 after purchasing an additional 48,078 shares in the last quarter. Ethos Financial Group LLC raised its position in WhiteHorse Finance by 2.8% in the 2nd quarter. Ethos Financial Group LLC now owns 205,673 shares of the investment management company’s stock valued at $1,793,000 after purchasing an additional 5,616 shares in the last quarter. Bank of America Corp DE raised its position in WhiteHorse Finance by 92.0% in the 2nd quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after purchasing an additional 88,659 shares in the last quarter. Legal & General Group Plc raised its position in shares of WhiteHorse Finance by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock worth $1,368,000 after acquiring an additional 6,560 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of WhiteHorse Finance by 172.4% during the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company’s stock worth $1,258,000 after acquiring an additional 82,263 shares in the last quarter. Institutional investors and hedge funds own 13.20% of the company’s stock.

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.