JPMorgan Chase & Co. Cuts WhiteHorse Finance (NASDAQ:WHF) Price Target to $9.50

WhiteHorse Finance (NASDAQ:WHF) had its target price lowered by research analysts at JPMorgan Chase & Co. from $10.00 to $9.50 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 10.00% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Oppenheimer lowered shares of WhiteHorse Finance from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $14.00 to $12.00 in a report on Monday, November 11th. Raymond James restated a “market perform” rating on shares of WhiteHorse Finance in a report on Friday, November 8th. Finally, StockNews.com cut WhiteHorse Finance from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

WhiteHorse Finance Stock Performance

NASDAQ:WHF traded down $0.01 during midday trading on Monday, hitting $10.56. The company’s stock had a trading volume of 34,350 shares, compared to its average volume of 74,509. The firm’s 50 day moving average is $10.18 and its 200-day moving average is $11.12. The firm has a market cap of $245.30 million, a P/E ratio of 23.49 and a beta of 1.25. 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 has a fifty-two week low of $9.45 and a fifty-two week high of $13.44.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings data on Thursday, November 7th. The investment management company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). The firm had revenue of $22.85 million during the quarter, compared to analysts’ expectations of $23.07 million. WhiteHorse Finance had a net margin of 10.65% and a return on equity of 12.86%. During the same period in the previous year, the firm posted $0.46 EPS. Equities analysts anticipate that WhiteHorse Finance will post 1.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC grew its stake 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 buying an additional 70,234 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of WhiteHorse Finance during the second quarter worth about $647,000. Squarepoint Ops LLC purchased a new position in shares of WhiteHorse Finance during the second quarter worth about $357,000. Advisors Asset Management Inc. increased its position in WhiteHorse Finance by 12.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 192,908 shares of the investment management company’s stock valued at $2,232,000 after acquiring an additional 21,616 shares during the period. Finally, Blue Trust Inc. raised its stake in WhiteHorse Finance by 43.3% during the 4th quarter. Blue Trust Inc. now owns 54,454 shares of the investment management company’s stock valued at $527,000 after acquiring an additional 16,454 shares during 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.