Short Interest in WhiteHorse Finance, Inc. (NASDAQ:WHF) Grows By 57.0%

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 338,100 shares, an increase of 57.0% from the February 28th total of 215,300 shares. Based on an average daily trading volume, of 97,700 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.9% of the company’s stock are sold short.

Institutional Trading of WhiteHorse Finance

Several large investors have recently modified their holdings of the company. Sound Income Strategies LLC lifted its position in WhiteHorse Finance by 7.8% during the 4th quarter. Sound Income Strategies LLC now owns 965,296 shares of the investment management company’s stock worth $9,344,000 after acquiring an additional 70,234 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of WhiteHorse Finance by 8.5% in the fourth quarter. Two Sigma Advisers LP now owns 319,652 shares of the investment management company’s stock valued at $3,094,000 after purchasing an additional 25,000 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of WhiteHorse Finance by 19.5% in the fourth quarter. Two Sigma Investments LP now owns 211,790 shares of the investment management company’s stock worth $2,050,000 after purchasing an additional 34,570 shares during the period. Millennium Management LLC lifted its position in shares of WhiteHorse Finance by 172.4% during the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company’s stock worth $1,258,000 after purchasing an additional 82,263 shares during the last quarter. Finally, Independent Advisor Alliance bought a new stake in WhiteHorse Finance during the 4th quarter valued at approximately $735,000. 13.20% of the stock is owned by institutional investors.

WhiteHorse Finance Trading Down 0.1 %

Shares of NASDAQ:WHF opened at $9.54 on Friday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $221.74 million, a PE ratio of 21.20 and a beta of 1.25. WhiteHorse Finance has a 1 year low of $9.45 and a 1 year high of $13.44. The firm has a fifty day moving average price of $10.36 and a 200 day moving average price of $10.74.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings results on Friday, March 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The company had revenue of $21.01 million for the quarter, compared to the consensus estimate of $22.43 million. WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. During the same quarter last year, the company posted $0.46 EPS. Analysts expect that WhiteHorse Finance will post 1.66 EPS for the current fiscal year.

WhiteHorse Finance Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 16.14%. The ex-dividend date is Friday, March 21st. WhiteHorse Finance’s payout ratio is 327.66%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. dropped their price objective on WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating on the stock in a report on Monday, March 10th.

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.