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

Ares Management LLC trimmed its holdings in shares of WhiteHorse Finance, Inc. (NASDAQ:WHF) by 50.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 440,764 shares of the investment management company’s stock after selling 446,246 shares during the quarter. WhiteHorse Finance comprises approximately 0.2% of Ares Management LLC’s holdings, making the stock its 23rd largest holding. Ares Management LLC’s holdings in WhiteHorse Finance were worth $6,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in 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 lifted its stake in shares of 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 valued at $226,000 after purchasing an additional 2,403 shares during the period. Quadrature Capital Ltd acquired a new position in shares of WhiteHorse Finance in the 1st quarter valued at $288,000. National Asset Management Inc. lifted its stake in shares of 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 valued at $311,000 after purchasing an additional 1,610 shares during the period. Finally, Bard Associates Inc. acquired a new position in shares of WhiteHorse Finance in the 2nd quarter valued at $349,000. Institutional investors and hedge funds own 12.17% of the company’s stock.

Several equities analysts recently issued reports on WHF shares. Raymond James boosted their target price on shares of WhiteHorse Finance from $16.00 to $16.50 and gave the company an “outperform” rating in a research note on Tuesday, August 10th. 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.

NASDAQ WHF traded up $0.04 on Thursday, hitting $15.94. The company had a trading volume of 250 shares, compared to its average volume of 65,005. The company has a market capitalization of $332.22 million, a PE ratio of 6.71 and a beta of 1.51. The company’s fifty day moving average price is $15.58 and its 200-day moving average price is $15.50. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.41 and a quick ratio of 1.41. WhiteHorse Finance, Inc. has a 12-month low of $9.91 and a 12-month high of $16.72.

WhiteHorse Finance (NASDAQ:WHF) last issued its quarterly earnings results on Monday, August 9th. The investment management company reported $0.34 EPS for the quarter, missing the 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 company had revenue of $17.34 million during the quarter, compared to analysts’ expectations of $17.51 million. On average, sell-side analysts anticipate 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%.

WhiteHorse Finance Company 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: Understanding dividend yield and dividend payout ratio

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

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