WhiteHawk Income (NYSE:WHK) Reaches New 12-Month Low – What’s Next?

WhiteHawk Income Corp. (NYSE:WHK)’s stock price reached a new 52-week low on Tuesday. The stock traded as low as $25.29 and last traded at $25.2750, with a volume of 88399 shares trading hands. The stock had previously closed at $25.72.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WHK shares. Raymond James Financial upped their target price on WhiteHawk Income from $34.00 to $37.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 2nd. Zacks Research raised WhiteHawk Income to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen cut WhiteHawk Income from a “hold” rating to a “sell” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. began coverage on WhiteHawk Income in a research report on Monday, July 6th. They issued a “neutral” rating and a $28.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on WhiteHawk Income in a research note on Thursday, September 10th. They set a “buy” rating and a $32.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

WhiteHawk Income Price Performance

The company’s 50-day simple moving average is $26.68.

WhiteHawk Income Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 24th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date of this dividend was Monday, August 24th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Readystate Asset Management LP purchased a new stake in WhiteHawk Income in the second quarter valued at approximately $696,000. BlueCrest Capital Management Ltd purchased a new position in WhiteHawk Income during the second quarter worth approximately $3,756,000. Alyeska Investment Group L.P. acquired a new position in shares of WhiteHawk Income in the 2nd quarter valued at $6,955,000. Finally, Citadel Advisors LLC acquired a new position in shares of WhiteHawk Income in the 2nd quarter valued at $10,215,000.

WhiteHawk Income Company Profile

WhiteHawk Income Corporation (NYSE: WHK) is a closed-end investment company focused on generating current income through investments in privately held, middle-market businesses. The company primarily invests in debt securities, including senior secured loans and other credit instruments.

Its investment portfolio is generally designed to provide financing to companies across a range of industries, with an emphasis on loans that may offer contractual interest payments and security interests in the borrowers’ assets.