Muzinich & Co. Inc. cut its stake in shares of WhiteHorse Finance Inc. (NASDAQ:WHF) by 16.1% during the second quarter, Holdings Channel reports. The fund owned 65,733 shares of the investment management company’s stock after selling 12,642 shares during the period. Muzinich & Co. Inc.’s holdings in WhiteHorse Finance were worth $711,000 as of its most recent SEC filing.
Separately, Nantahala Capital Management LLC raised its position in WhiteHorse Finance by 18.8% in the first quarter. Nantahala Capital Management LLC now owns 235,669 shares of the investment management company’s stock worth $2,446,000 after buying an additional 37,347 shares in the last quarter. Hedge funds and other institutional investors own 10.64% of the company’s stock.
Shares of WhiteHorse Finance Inc. (NASDAQ:WHF) traded up 0.37% during mid-day trading on Friday, reaching $10.93. 32,348 shares of the company were exchanged. WhiteHorse Finance Inc. has a 12 month low of $9.14 and a 12 month high of $13.68. The firm has a 50-day moving average price of $11.45 and a 200 day moving average price of $10.85.
WhiteHorse Finance (NASDAQ:WHF) last issued its earnings results on Friday, August 5th. The investment management company reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. WhiteHorse Finance had a net margin of 0.62% and a return on equity of 8.50%. On average, equities analysts expect that WhiteHorse Finance Inc. will post $1.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 19th will be given a $0.355 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.42 dividend on an annualized basis and a yield of 12.99%. WhiteHorse Finance’s dividend payout ratio (DPR) is presently -1,014.21%.
A number of research analysts recently commented on WHF shares. Citigroup Inc. raised their price objective on shares of WhiteHorse Finance from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, September 14th. Deutsche Bank AG set a $13.50 price objective on shares of WhiteHorse Finance and gave the company a “buy” rating in a research note on Thursday, August 11th. TheStreet upgraded shares of WhiteHorse Finance from a “hold” rating to a “buy” rating in a research note on Friday, August 5th. Zacks Investment Research lowered shares of WhiteHorse Finance from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Finally, Robert W. Baird lowered shares of WhiteHorse Finance from an “outperform” rating to a “neutral” rating and set a $12.00 price objective on the stock. in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.40.
WhiteHorse Finance Company Profile
WhiteHorse Finance, Inc is a non-diversified, closed-end management investment company. The Company is a direct lender targeting debt investments in privately held, small-cap companies located in the United States. The Company’s investment objective is to generate attractive risk-adjusted returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of 3 to 6 years.
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