Sound Income Strategies LLC Has $10.07 Million Stake in WhiteHorse Finance, Inc. (NASDAQ:WHF)

Sound Income Strategies LLC grew its holdings in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) by 7.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 812,395 shares of the investment management company’s stock after purchasing an additional 58,463 shares during the period. Sound Income Strategies LLC’s holdings in WhiteHorse Finance were worth $10,074,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Quadrature Capital Ltd raised its stake in WhiteHorse Finance by 121.4% in the fourth quarter. Quadrature Capital Ltd now owns 62,643 shares of the investment management company’s stock valued at $772,000 after purchasing an additional 34,353 shares in the last quarter. Cape Investment Advisory Inc. acquired a new position in WhiteHorse Finance in the fourth quarter valued at $89,000. Avantax Advisory Services Inc. boosted its position in WhiteHorse Finance by 13.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 21,198 shares of the investment management company’s stock valued at $261,000 after acquiring an additional 2,458 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in WhiteHorse Finance by 50.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 61,800 shares of the investment management company’s stock worth $760,000 after acquiring an additional 20,800 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of WhiteHorse Finance by 1,130.0% in the 4th quarter. International Assets Investment Management LLC now owns 2,460 shares of the investment management company’s stock worth $30,000 after acquiring an additional 2,260 shares in the last quarter. 13.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, major shareholder Anthony Tamer sold 1,000,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 3,976,258 shares in the company, valued at approximately $48,311,534.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Analyst Upgrades and Downgrades

WHF has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their target price on WhiteHorse Finance from $12.00 to $11.50 and set an “underweight” rating on the stock in a research report on Friday, March 1st. StockNews.com cut WhiteHorse Finance from a “buy” rating to a “hold” rating in a report on Saturday, May 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, WhiteHorse Finance currently has a consensus rating of “Hold” and a consensus price target of $12.81.

WhiteHorse Finance Stock Down 1.1 %

Shares of WHF traded down $0.13 during trading hours on Wednesday, hitting $12.12. The stock had a trading volume of 48,317 shares, compared to its average volume of 87,139. The firm has a 50 day simple moving average of $12.88 and a 200-day simple moving average of $12.66. WhiteHorse Finance, Inc. has a 1-year low of $11.48 and a 1-year high of $13.69. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.39 and a quick ratio of 1.39. The firm has a market capitalization of $284.73 million, a P/E ratio of 14.93 and a beta of 1.27.

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

WhiteHorse Finance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 18th will be paid a dividend of $0.385 per share. The ex-dividend date is Tuesday, June 18th. This represents a $1.54 dividend on an annualized basis and a yield of 12.71%. WhiteHorse Finance’s dividend payout ratio (DPR) is presently 187.81%.

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.