WhiteHorse Finance (NASDAQ:WHF) Upgraded at Raymond James Financial

Raymond James Financial upgraded shares of WhiteHorse Finance (NASDAQ:WHF) from a market perform rating to an outperform rating in a report released on Thursday, Marketbeat.com reports. Raymond James Financial currently has $9.00 price objective on the investment management company’s stock.

WHF has been the subject of several other reports. JPMorgan Chase & Co. upped their price objective on shares of WhiteHorse Finance from $6.00 to $6.50 and gave the stock an “underweight” rating in a report on Wednesday, August 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of WhiteHorse Finance in a research note on Friday, August 28th. Finally, B. Riley Financial lifted their target price on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, WhiteHorse Finance presently has a consensus rating of “Reduce” and an average price target of $7.83.

WhiteHorse Finance Stock Up 0.1%

WHF opened at $7.96 on Thursday. The firm has a market cap of $170.98 million, a P/E ratio of 10.08 and a beta of 0.39. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.39 and a current ratio of 1.39. The business has a 50 day moving average price of $7.19 and a 200 day moving average price of $7.00. WhiteHorse Finance has a twelve month low of $6.07 and a twelve month high of $8.05.

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings results on Monday, August 10th. The investment management company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.03). WhiteHorse Finance had a net margin of 26.88% and a return on equity of 8.94%. The company had revenue of $14.37 million for the quarter, compared to analyst estimates of $15.66 million. Research analysts forecast that WhiteHorse Finance will post 0.97 EPS for the current year.

WhiteHorse Finance Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Thursday, December 10th. Shareholders of record on Friday, October 30th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, October 30th. WhiteHorse Finance’s dividend payout ratio (DPR) is 126.58%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WHF. Bank of America Corp DE bought a new stake in shares of WhiteHorse Finance in the second quarter valued at approximately $1,240,000. Legal & General Group Plc bought a new stake in shares of WhiteHorse Finance in the second quarter valued at approximately $1,172,000. Lalia Capital LLC acquired a new stake in shares of WhiteHorse Finance in the second quarter worth $4,776,000. NewEdge Wealth LLC acquired a new stake in shares of WhiteHorse Finance in the second quarter worth $117,000. Finally, Gables Capital Management Inc. acquired a new stake in shares of WhiteHorse Finance in the second quarter worth $294,000. 13.20% of the stock is owned by institutional investors.

About WhiteHorse Finance

WhiteHorse Finance, Inc is a business development company that provides financing to privately owned, middle-market businesses in the United States. The company primarily invests in senior secured loans, including first-lien and unitranche loans, and may also provide second-lien and subordinated debt financing.

In addition to debt investments, WhiteHorse Finance may make equity investments and co-investments alongside its lending activities. Its portfolio generally supports acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes for middle-market companies across a range of industries.

WhiteHorse Finance was formed in 2012 and operates as a regulated business development company under the Investment Company Act of 1940.