WhiteHorse Finance, Inc. $WHF Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in WhiteHorse Finance, Inc. (NASDAQ:WHF) by 57.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,858 shares of the investment management company’s stock after selling 94,117 shares during the period. Advisors Asset Management Inc. owned about 0.30% of WhiteHorse Finance worth $609,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WHF. Northstar Advisory Group LLC acquired a new stake in WhiteHorse Finance in the second quarter valued at $87,000. Ethos Financial Group LLC acquired a new position in shares of WhiteHorse Finance during the 1st quarter worth $1,931,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of WhiteHorse Finance by 13.4% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,487 shares of the investment management company’s stock worth $468,000 after buying an additional 5,715 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in WhiteHorse Finance by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 156,602 shares of the investment management company’s stock valued at $1,368,000 after acquiring an additional 6,560 shares during the last quarter. 13.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WhiteHorse Finance news, Director John Bolduc purchased 14,200 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $6.88 per share, for a total transaction of $97,696.00. Following the completion of the acquisition, the director owned 251,985 shares of the company’s stock, valued at approximately $1,733,656.80. This represents a 5.97% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stuart D. Aronson purchased 14,000 shares of WhiteHorse Finance stock in a transaction on Wednesday, November 12th. The shares were acquired at an average cost of $6.92 per share, for a total transaction of $96,880.00. Following the completion of the transaction, the chief executive officer owned 50,000 shares of the company’s stock, valued at $346,000. This represents a 38.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have purchased 43,300 shares of company stock valued at $298,816. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on WHF. Weiss Ratings restated a “sell (d+)” rating on shares of WhiteHorse Finance in a research report on Wednesday, October 8th. B. Riley dropped their price objective on shares of WhiteHorse Finance from $9.50 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 13th. Zacks Research lowered WhiteHorse Finance from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. LADENBURG THALM/SH SH upgraded WhiteHorse Finance to a “hold” rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. cut their price target on WhiteHorse Finance from $8.00 to $6.50 and set an “underweight” rating for the company in a report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $7.75.

WhiteHorse Finance Trading Up 2.4%

WHF stock opened at $7.38 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.32. The company has a market cap of $171.53 million, a price-to-earnings ratio of 49.20 and a beta of 0.56. The business has a fifty day simple moving average of $7.05 and a 200-day simple moving average of $8.18. WhiteHorse Finance, Inc. has a 52 week low of $6.39 and a 52 week high of $11.31.

WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Monday, November 10th. The investment management company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). WhiteHorse Finance had a net margin of 4.36% and a return on equity of 10.72%. The firm had revenue of $17.69 million during the quarter, compared to analyst estimates of $18.43 million. On average, equities research analysts expect that WhiteHorse Finance, Inc. will post 1.66 EPS for the current year.

WhiteHorse Finance Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 5th. Investors of record on Monday, December 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend is Monday, December 22nd. WhiteHorse Finance’s dividend payout ratio is 232.56%.

WhiteHorse Finance Company Profile

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.