WhiteHorse Finance, Inc. (NASDAQ:WHF) Sees Large Growth in Short Interest

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

WhiteHorse Finance Stock Performance

Shares of WHF opened at $9.54 on Friday. WhiteHorse Finance has a 12-month low of $9.45 and a 12-month high of $13.44. The stock has a market capitalization of $221.74 million, a P/E ratio of 21.20 and a beta of 1.25. The firm’s 50 day moving average is $10.36 and its 200-day moving average is $10.73. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.98 and a quick ratio of 0.98.

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

WhiteHorse Finance Announces Dividend

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

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. decreased their target price on shares of WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating for the company in a research report on Monday, March 10th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Millennium Management LLC increased its stake in WhiteHorse Finance by 172.4% in the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company’s stock valued at $1,258,000 after buying an additional 82,263 shares during the period. Independent Advisor Alliance acquired a new position in shares of WhiteHorse Finance in the fourth quarter worth $735,000. Sound Income Strategies LLC raised its holdings in shares of WhiteHorse Finance by 7.8% during the fourth 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in WhiteHorse Finance during the fourth quarter valued at $407,000. Finally, Two Sigma Investments LP grew its stake in 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 valued at $2,050,000 after purchasing an additional 34,570 shares in the last quarter. 13.20% of the stock is owned by institutional investors and hedge funds.

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.