WhiteHorse Finance, Inc. (NASDAQ:WHF) Short Interest Up 82.7% in January

WhiteHorse Finance, Inc. (NASDAQ:WHF) saw a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 472,310 shares, a growth of 82.7% from the January 15th total of 258,507 shares. Based on an average trading volume of 122,880 shares, the days-to-cover ratio is currently 3.8 days. Currently, 2.1% of the company’s shares are sold short. Currently, 2.1% of the company’s shares are sold short. Based on an average trading volume of 122,880 shares, the days-to-cover ratio is currently 3.8 days.

WhiteHorse Finance Stock Down 0.5%

Shares of NASDAQ WHF opened at $6.55 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.22. WhiteHorse Finance has a 12-month low of $6.39 and a 12-month high of $11.31. The company has a market cap of $152.22 million, a P/E ratio of 15.23 and a beta of 0.56. The stock has a fifty day moving average price of $6.97 and a 200 day moving average price of $7.45.

Analysts Set New Price Targets

Several brokerages have weighed in on WHF. Zacks Research upgraded WhiteHorse Finance from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d+)” rating on shares of WhiteHorse Finance in a report on Wednesday, January 21st. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, WhiteHorse Finance presently has an average rating of “Reduce” and an average target price of $7.75.

Insider Activity at WhiteHorse Finance

In related news, CEO Stuart D. Aronson purchased 10,000 shares of the business’s stock in a transaction on Monday, December 22nd. The shares were bought at an average price of $6.90 per share, for a total transaction of $69,000.00. Following the acquisition, the chief executive officer directly owned 60,000 shares in the company, valued at $414,000. This trade represents a 20.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joyson Thomas bought 4,502 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were purchased at an average price of $7.01 per share, for a total transaction of $31,559.02. Following the completion of the purchase, the chief financial officer directly owned 22,001 shares of the company’s stock, valued at approximately $154,227.01. This trade represents a 25.73% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 44,676 shares of company stock worth $310,287. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Lalia Capital LLC acquired a new stake in shares of WhiteHorse Finance during the 4th quarter valued at about $4,628,000. Ethos Financial Group LLC raised its holdings in WhiteHorse Finance by 9.7% in the 4th 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 period. Two Sigma Investments LP lifted its position in shares of WhiteHorse Finance by 27.5% during the 3rd quarter. Two Sigma Investments LP now owns 231,140 shares of the investment management company’s stock worth $1,599,000 after purchasing an additional 49,893 shares during the last quarter. Bank of America Corp DE boosted its position in shares of WhiteHorse Finance by 92.0% in the second quarter. Bank of America Corp DE now owns 185,004 shares of the investment management company’s stock valued at $1,613,000 after acquiring an additional 88,659 shares during the period. Finally, Legal & General Group Plc boosted its holdings 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 purchasing an additional 6,560 shares during the period. Institutional investors and hedge funds 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.