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

Shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) 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.

Wall Street Analysts Forecast Growth

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

WhiteHorse Finance Stock Up 1.6 %

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

WhiteHorse Finance (NASDAQ:WHF) last announced its quarterly earnings results on Wednesday, May 8th. The investment management company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $25.48 million during the quarter, compared to analysts’ expectations of $24.90 million. WhiteHorse Finance had a net margin of 18.40% and a return on equity of 13.40%. On average, analysts predict that WhiteHorse Finance, Inc. will post 1.8 earnings per share for the current year.

WhiteHorse Finance Announces Dividend

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

Insider Buying and Selling at WhiteHorse Finance

In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 1,000,000 shares of the company’s stock in a transaction 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 directly owns 3,976,258 shares in the company, valued at approximately $48,311,534.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WHF. EntryPoint Capital LLC bought a new position in shares of WhiteHorse Finance in the 1st quarter worth about $39,000. CANADA LIFE ASSURANCE Co increased its stake in shares of WhiteHorse Finance by 19.7% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 18,292 shares of the investment management company’s stock worth $227,000 after acquiring an additional 3,013 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of WhiteHorse Finance by 7.8% in the 1st quarter. Sound Income Strategies LLC now owns 812,395 shares of the investment management company’s stock worth $10,074,000 after acquiring an additional 58,463 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of WhiteHorse Finance by 121.4% in the 4th quarter. Quadrature Capital Ltd now owns 62,643 shares of the investment management company’s stock worth $772,000 after acquiring an additional 34,353 shares in the last quarter. Finally, Cape Investment Advisory Inc. bought a new position in shares of WhiteHorse Finance in the 4th quarter worth about $89,000. 13.20% of the stock is currently owned by institutional investors.

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.