WhiteHorse Finance (NASDAQ:WHF) Stock Price Crosses Above Two Hundred Day Moving Average of $12.64

WhiteHorse Finance, Inc. (NASDAQ:WHF) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.64 and traded as high as $12.73. WhiteHorse Finance shares last traded at $12.62, with a volume of 80,518 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of WhiteHorse Finance from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.81.

WhiteHorse Finance Stock Performance

The stock’s 50-day simple moving average is $12.83 and its 200-day simple moving average is $12.64. The stock has a market cap of $293.29 million, a price-to-earnings ratio of 15.39 and a beta of 1.30. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.24.

WhiteHorse Finance (NASDAQ:WHF) last announced its earnings results on Wednesday, May 8th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. WhiteHorse Finance had a net margin of 18.40% and a return on equity of 13.40%. The firm had revenue of $25.48 million for the quarter, compared to analyst estimates of $24.90 million. Analysts forecast that WhiteHorse Finance, Inc. will post 1.8 earnings per share for the current fiscal year.

WhiteHorse Finance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 18th were given a dividend of $0.385 per share. The ex-dividend date was Tuesday, June 18th. This represents a $1.54 annualized dividend and a dividend yield of 12.20%. WhiteHorse Finance’s dividend payout ratio is currently 187.81%.

Insiders Place Their Bets

In related news, major shareholder Anthony Tamer sold 1,000,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $12.15, for a total value of $12,150,000.00. Following the completion of the transaction, the insider now owns 3,976,258 shares of the company’s stock, valued at approximately $48,311,534.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Trading of WhiteHorse Finance

A number of hedge funds have recently added to or reduced their stakes in WHF. Avantax Advisory Services Inc. raised its stake in shares of WhiteHorse Finance by 13.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,198 shares of the investment management company’s stock valued at $261,000 after acquiring an additional 2,458 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of WhiteHorse Finance by 8.0% during the third quarter. Advisors Asset Management Inc. now owns 280,450 shares of the investment management company’s stock valued at $3,581,000 after acquiring an additional 20,882 shares during the last quarter. Quadrature Capital Ltd raised its stake in shares of WhiteHorse Finance by 121.4% during the fourth quarter. Quadrature Capital Ltd now owns 62,643 shares of the investment management company’s stock valued at $772,000 after acquiring an additional 34,353 shares during the last quarter. Toroso Investments LLC raised its stake in WhiteHorse Finance by 6.4% during the third quarter. Toroso Investments LLC now owns 60,582 shares of the investment management company’s stock worth $774,000 after buying an additional 3,668 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in WhiteHorse Finance by 6.3% during the fourth quarter. Sound Income Strategies LLC now owns 753,932 shares of the investment management company’s stock worth $9,273,000 after buying an additional 44,420 shares during the last quarter. Institutional investors and hedge funds own 13.20% of the company’s stock.

About WhiteHorse Finance

WhiteHorse Finance, Inc is business development company, non-diversified, closed end management company specializing in originating senior secured loans, lower middle market, growth capital industries. It invests in broadline retail, office services and supplies, building products, health care services, health care supplies, research and consulting services, application software, home furnishings, specialized consumer services, data processing and outsourced services, leisure facilities, cable, and satellite.