WhiteHorse Finance, Inc. (NASDAQ:WHF) Shares Sold by Ares Management LLC

Ares Management LLC reduced its position in WhiteHorse Finance, Inc. (NASDAQ:WHF) by 50.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 440,764 shares of the investment management company’s stock after selling 446,246 shares during the quarter. WhiteHorse Finance comprises about 0.2% of Ares Management LLC’s portfolio, making the stock its 23rd biggest holding. Ares Management LLC’s holdings in WhiteHorse Finance were worth $6,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in shares of WhiteHorse Finance in the 1st quarter valued at $164,000. Commonwealth Equity Services LLC increased its holdings in WhiteHorse Finance by 18.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,206 shares of the investment management company’s stock worth $226,000 after acquiring an additional 2,403 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in WhiteHorse Finance in the 1st quarter worth $288,000. National Asset Management Inc. increased its holdings in WhiteHorse Finance by 8.4% in the 2nd quarter. National Asset Management Inc. now owns 20,811 shares of the investment management company’s stock worth $311,000 after acquiring an additional 1,610 shares in the last quarter. Finally, Bard Associates Inc. purchased a new stake in WhiteHorse Finance in the 2nd quarter worth $349,000. Hedge funds and other institutional investors own 12.17% of the company’s stock.

Shares of WhiteHorse Finance stock traded up $0.04 during trading hours on Thursday, reaching $15.94. 250 shares of the company’s stock were exchanged, compared to its average volume of 65,005. WhiteHorse Finance, Inc. has a 1 year low of $9.91 and a 1 year high of $16.72. The company has a market capitalization of $332.22 million, a P/E ratio of 6.71 and a beta of 1.51. The business has a fifty day moving average of $15.58 and a two-hundred day moving average of $15.50. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 1.12.

WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Monday, August 9th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). WhiteHorse Finance had a return on equity of 8.71% and a net margin of 70.65%. The business had revenue of $17.34 million for the quarter, compared to analysts’ expectations of $17.51 million. As a group, research analysts predict that WhiteHorse Finance, Inc. will post 1.49 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 4th. Stockholders of record on Monday, September 20th were issued a dividend of $0.355 per share. This represents a $1.42 dividend on an annualized basis and a dividend yield of 8.91%. The ex-dividend date of this dividend was Friday, September 17th. WhiteHorse Finance’s payout ratio is 121.37%.

Several equities research analysts recently commented on WHF shares. JPMorgan Chase & Co. raised shares of WhiteHorse Finance from an “underweight” rating to a “neutral” rating and set a $15.50 price target for the company in a report on Tuesday, August 10th. Raymond James boosted their price target on shares of WhiteHorse Finance from $16.00 to $16.50 and gave the stock an “outperform” rating in a report on Tuesday, August 10th.

WhiteHorse Finance Profile

WhiteHorse Finance, Inc is an externally managed, non-diversified, closed-end management investment company that has elected to be treated as a business development company under the Investment Company Act of 1940. Our stock is publicly traded on the NASDAQ exchange under the ticker symbol ”WHF”. We have senior notes listed on the NASDAQ exchange under the ticker symbol “WHFBL“.

Further Reading: How is a management fee different from a performance fee?

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Institutional Ownership by Quarter for WhiteHorse Finance (NASDAQ:WHF)

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