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

Shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.90 and traded as high as $7.09. WhiteHorse Finance shares last traded at $7.05, with a volume of 42,457 shares trading hands.

Wall Street Analysts Forecast Growth

WHF has been the subject of a number of recent research reports. Weiss Ratings downgraded WhiteHorse Finance from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, June 2nd. B. Riley Financial raised their price objective on shares of WhiteHorse Finance from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their price target on WhiteHorse Finance from $6.00 to $6.50 and gave the stock an “underweight” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $7.25.

WhiteHorse Finance Price Performance

The firm has a market capitalization of $155.30 million, a P/E ratio of 9.15 and a beta of 0.38. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average price of $6.60 and a 200-day moving average price of $6.90.

WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Monday, August 10th. The investment management company reported $0.22 earnings per share 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 $15.29 million for the quarter, compared to the consensus estimate of $15.66 million. On average, analysts expect that WhiteHorse Finance, Inc. will post 0.97 earnings per share for the current year.

WhiteHorse Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 5th. Stockholders of record on Monday, September 21st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 13.8%. WhiteHorse Finance’s dividend payout ratio is currently 126.58%.

Insider Buying and Selling at WhiteHorse Finance

In other WhiteHorse Finance news, CEO Stuart D. Aronson bought 15,000 shares of WhiteHorse Finance stock in a transaction on Monday, June 15th. The shares were acquired at an average price of $6.41 per share, for a total transaction of $96,150.00. Following the completion of the purchase, the chief executive officer directly owned 127,000 shares in the company, valued at approximately $814,070. This trade represents a 13.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Bolduc purchased 15,380 shares of WhiteHorse Finance stock in a transaction that occurred on Thursday, June 18th. The stock was bought at an average cost of $6.49 per share, for a total transaction of $99,816.20. Following the purchase, the director directly owned 317,297 shares in the company, valued at $2,059,257.53. This trade represents a 5.09% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 71,940 shares of company stock worth $474,308 in the last ninety days. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Lalia Capital LLC purchased a new stake in shares of WhiteHorse Finance in the 2nd quarter worth approximately $4,776,000. CastleKnight Management LP purchased a new position in WhiteHorse Finance during the fourth quarter valued at approximately $2,033,000. Two Sigma Investments LP raised its stake 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 worth $1,599,000 after buying an additional 49,893 shares in the last quarter. Bank of America Corp DE bought a new position in WhiteHorse Finance in the second quarter worth approximately $1,240,000. Finally, Legal & General Group Plc purchased a new stake in WhiteHorse Finance during the second quarter worth $1,172,000. 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.