WhiteHorse Finance, Inc. (NASDAQ:WHF) Declares Quarterly Dividend of $0.25

WhiteHorse Finance, Inc. (NASDAQ:WHF) announced a quarterly dividend on Thursday, May 7th. Investors of record on Thursday, May 21st will be given a dividend of 0.25 per share by the investment management company on Monday, July 6th. This represents a c) dividend on an annualized basis and a yield of 13.2%. The ex-dividend date is Thursday, May 21st.

WhiteHorse Finance has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. WhiteHorse Finance has a dividend payout ratio of 87.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect WhiteHorse Finance to earn $1.00 per share next year, which means the company may not be able to cover its $1.00 annual dividend with an expected future payout ratio of 100.0%.

WhiteHorse Finance Stock Down 0.3%

WHF traded down $0.02 during trading on Thursday, reaching $7.58. The company had a trading volume of 99,351 shares, compared to its average volume of 111,263. The company has a market cap of $168.53 million, a P/E ratio of 12.23 and a beta of 0.41. WhiteHorse Finance has a 12 month low of $6.07 and a 12 month high of $9.66. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.25 and a quick ratio of 1.25. The business’s fifty day moving average price is $7.29 and its 200 day moving average price is $7.11.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings data on Thursday, May 7th. The investment management company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). The company had revenue of $15.90 million for the quarter, compared to the consensus estimate of $16.35 million. WhiteHorse Finance had a return on equity of 9.66% and a net margin of 19.73%. Equities analysts anticipate that WhiteHorse Finance will post 1.08 EPS for the current year.

Insiders Place Their Bets

In other WhiteHorse Finance news, Director John Bolduc acquired 8,390 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were acquired at an average price of $7.12 per share, with a total value of $59,736.80. Following the completion of the transaction, the director directly owned 284,617 shares in the company, valued at $2,026,473.04. This trade represents a 3.04% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stuart D. Aronson bought 8,000 shares of WhiteHorse Finance stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average price of $6.95 per share, with a total value of $55,600.00. Following the acquisition, the chief executive officer directly owned 80,000 shares of the company’s stock, valued at $556,000. The trade was a 11.11% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 47,448 shares of company stock worth $337,673. 2.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WhiteHorse Finance

A number of large investors have recently modified their holdings of the business. Advisory Services Network LLC bought a new position in shares of WhiteHorse Finance in the 3rd quarter valued at about $26,000. Kestra Advisory Services LLC bought a new stake in WhiteHorse Finance during the fourth quarter worth about $44,000. HUB Investment Partners LLC acquired a new position in WhiteHorse Finance during the third quarter valued at approximately $75,000. Norden Group LLC acquired a new position in WhiteHorse Finance during the fourth quarter valued at approximately $76,000. Finally, O Shaughnessy Asset Management LLC bought a new position in WhiteHorse Finance in the fourth quarter valued at approximately $88,000. 13.20% of the stock is currently owned by institutional investors and hedge funds.

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.