WhiteHorse Finance (NASDAQ:WHF) Shares Cross Above 200-Day Moving Average – Should You Sell?

WhiteHorse Finance, Inc. (NASDAQ:WHF) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.07 and traded as high as $7.42. WhiteHorse Finance shares last traded at $7.11, with a volume of 187,393 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WHF shares. Zacks Research raised shares of WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $7.75.

WhiteHorse Finance Stock Performance

The stock has a 50-day moving average of $6.86 and a 200 day moving average of $7.07. The stock has a market cap of $158.06 million, a PE ratio of 11.47 and a beta of 0.41. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.25.

WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Monday, March 2nd. The investment management company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.02. WhiteHorse Finance had a return on equity of 9.66% and a net margin of 19.73%.The company had revenue of $17.34 million during the quarter, compared to analysts’ expectations of $16.91 million. Equities analysts predict that WhiteHorse Finance, Inc. will post 1.66 EPS for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 6th. Investors of record on Thursday, March 12th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 14.1%. WhiteHorse Finance’s dividend payout ratio is currently 161.29%.

Insider Activity

In other news, CEO Stuart D. Aronson acquired 8,000 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The stock was purchased at an average cost of $6.95 per share, for a total transaction of $55,600.00. Following the completion of the transaction, the chief executive officer owned 80,000 shares in the company, valued at approximately $556,000. This trade represents a 11.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Bolduc bought 8,390 shares of WhiteHorse Finance stock in a transaction on Monday, March 16th. The shares were purchased at an average cost of $7.12 per share, for a total transaction of $59,736.80. Following the completion of the purchase, the director directly owned 284,617 shares of the company’s stock, valued at $2,026,473.04. This trade represents a 3.04% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 47,448 shares of company stock valued at $337,673. 2.50% of the stock is owned by company insiders.

Institutional Trading of WhiteHorse Finance

Several institutional investors have recently made changes to their positions in WHF. Lalia Capital LLC acquired a new position in WhiteHorse Finance in the fourth quarter valued at approximately $4,628,000. CastleKnight Management LP acquired a new stake in WhiteHorse Finance during the fourth quarter worth $2,033,000. Ethos Financial Group LLC increased its stake in WhiteHorse Finance by 9.7% during the fourth quarter. Ethos Financial Group LLC now owns 243,940 shares of the investment management company’s stock worth $1,695,000 after acquiring an additional 21,486 shares during the last quarter. Two Sigma Investments LP raised its position in WhiteHorse Finance by 27.5% in the third quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock valued at $1,599,000 after purchasing an additional 49,893 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 13.20% of the company’s stock.

WhiteHorse Finance Company Profile

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.