Short Interest in WhiteHorse Finance, Inc. (NASDAQ:WHF) Drops By 16.7%

WhiteHorse Finance, Inc. (NASDAQ:WHF) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 406,377 shares, a drop of 16.7% from the March 15th total of 487,728 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily volume of 102,368 shares, the days-to-cover ratio is presently 4.0 days.

WhiteHorse Finance Price Performance

Shares of WHF opened at $7.57 on Friday. WhiteHorse Finance has a fifty-two week low of $6.07 and a fifty-two week high of $9.95. The company has a market capitalization of $168.28 million, a price-to-earnings ratio of 12.21 and a beta of 0.41. The firm has a 50-day simple moving average of $7.06 and a 200-day simple moving average of $7.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.25 and a current ratio of 1.25.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Monday, March 2nd. The investment management company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The business had revenue of $17.34 million during the quarter, compared to the consensus estimate of $16.91 million. WhiteHorse Finance had a net margin of 19.73% and a return on equity of 9.66%. On average, equities research analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current year.

WhiteHorse Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 6th. Investors of record on Thursday, March 12th were given a $0.25 dividend. The ex-dividend date was Thursday, March 12th. This represents a $1.00 dividend on an annualized basis and a yield of 13.2%. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 161.29%.

Insider Activity

In other news, Director John Bolduc acquired 8,392 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were bought at an average price of $7.12 per share, with a total value of $59,751.04. Following the completion of the acquisition, the director owned 267,894 shares in the company, valued at $1,907,405.28. This trade represents a 3.23% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stuart D. Aronson acquired 8,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were purchased at an average cost of $6.95 per share, for a total transaction of $55,600.00. Following the acquisition, the chief executive officer owned 80,000 shares of the company’s stock, valued at approximately $556,000. The trade was a 11.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 47,448 shares of company stock worth $337,673. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On WhiteHorse Finance

A number of hedge funds have recently added to or reduced their stakes in the company. HRT Financial LP lifted its position in WhiteHorse Finance by 16.5% in the fourth quarter. HRT Financial LP now owns 19,922 shares of the investment management company’s stock valued at $138,000 after purchasing an additional 2,815 shares during the period. Advisory Services Network LLC acquired a new stake in WhiteHorse Finance in the third quarter valued at about $26,000. Osaic Holdings Inc. lifted its position in WhiteHorse Finance by 43.7% in the fourth quarter. Osaic Holdings Inc. now owns 18,634 shares of the investment management company’s stock valued at $130,000 after purchasing an additional 5,665 shares during the period. Kestra Advisory Services LLC acquired a new stake in WhiteHorse Finance in the fourth quarter valued at about $44,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in WhiteHorse Finance by 35.9% in the third quarter. CANADA LIFE ASSURANCE Co now owns 24,457 shares of the investment management company’s stock valued at $169,000 after purchasing an additional 6,460 shares during the period. Institutional investors and hedge funds own 13.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, WhiteHorse Finance currently has a consensus rating of “Reduce” and a consensus price target of $7.75.

About WhiteHorse Finance

WhiteHorse Finance Corporation (NASDAQ: WHF) is a closed-end management investment company organized as a business development company under the Investment Company Act of 1940. The firm’s primary objective is to generate current income and, to a lesser extent, capital appreciation by making debt and equity investments in privately held middle-market companies. WhiteHorse Finance seeks to partner with established businesses across a range of industries, providing flexible financing solutions designed to support growth initiatives, acquisitions and recapitalizations.

The company’s investment portfolio predominantly comprises senior secured loans, second-lien debt, subordinated debt and select equity interests.