JPMorgan Chase & Co. Cuts WhiteHorse Finance (NASDAQ:WHF) Price Target to $9.00

WhiteHorse Finance (NASDAQ:WHF) had its price target cut by JPMorgan Chase & Co. from $9.50 to $9.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an underweight rating on the investment management company’s stock.

Separately, Oppenheimer downgraded shares of WhiteHorse Finance from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $14.00 to $12.00 in a research note on Monday, November 11th.

WhiteHorse Finance Stock Performance

WHF opened at $9.93 on Monday. The firm has a market cap of $230.80 million, a P/E ratio of 22.07 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 company has a 50 day simple moving average of $10.37 and a two-hundred day simple moving average of $10.90. 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 posted its quarterly earnings results on Friday, March 7th. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. The firm had revenue of $21.01 million during the quarter, compared to the consensus estimate of $22.43 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Equities analysts forecast that WhiteHorse Finance will post 1.66 earnings per share for the current fiscal year.

WhiteHorse Finance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.385 per share. This represents a $1.54 annualized dividend and a yield of 15.51%. The ex-dividend date of this dividend is Friday, March 21st. WhiteHorse Finance’s payout ratio is 327.66%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WHF. Tower Research Capital LLC TRC bought a new stake in shares of WhiteHorse Finance in the 4th quarter valued at about $39,000. Snowden Capital Advisors LLC bought a new stake in shares of WhiteHorse Finance in the 4th quarter valued at about $101,000. LPL Financial LLC boosted its holdings in shares of WhiteHorse Finance by 10.9% in the 4th quarter. LPL Financial LLC now owns 15,182 shares of the investment management company’s stock valued at $147,000 after buying an additional 1,495 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in shares of WhiteHorse Finance in the 4th quarter valued at about $154,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of WhiteHorse Finance by 23.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 19,418 shares of the investment management company’s stock valued at $188,000 after buying an additional 3,683 shares in the last quarter. 13.20% of the stock is currently owned by institutional investors.

WhiteHorse Finance Company Profile

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.