JPMorgan Chase & Co. Cuts WhiteHorse Finance (NASDAQ:WHF) Price Target to $9.00

WhiteHorse Finance (NASDAQ:WHF) had its price target lowered by JPMorgan Chase & Co. from $9.50 to $9.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the investment management company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential downside of 8.35% from the company’s current price.

Separately, Oppenheimer downgraded WhiteHorse Finance from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $14.00 to $12.00 in a report on Monday, November 11th.

WhiteHorse Finance Stock Down 1.8 %

Shares of NASDAQ:WHF opened at $9.82 on Monday. The stock has a 50-day simple moving average of $10.37 and a 200-day simple moving average of $10.91. The stock has a market capitalization of $228.25 million, a P/E ratio of 21.82 and a beta of 1.25. WhiteHorse Finance has a 1 year low of $9.45 and a 1 year high of $13.44. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.98 and a current ratio of 0.98.

WhiteHorse Finance (NASDAQ:WHF) last released its quarterly earnings data on Friday, March 7th. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). WhiteHorse Finance had a return on equity of 12.86% and a net margin of 10.65%. The business had revenue of $21.01 million for the quarter, compared to analysts’ expectations of $22.43 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. Equities analysts forecast that WhiteHorse Finance will post 1.66 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC purchased a new stake in WhiteHorse Finance during the 4th quarter worth $39,000. Snowden Capital Advisors LLC purchased a new stake in shares of WhiteHorse Finance during the fourth quarter worth about $101,000. LPL Financial LLC lifted its stake in shares of WhiteHorse Finance by 10.9% in the fourth quarter. LPL Financial LLC now owns 15,182 shares of the investment management company’s stock worth $147,000 after acquiring an additional 1,495 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in WhiteHorse Finance in the fourth quarter valued at about $154,000. Finally, Commonwealth Equity Services LLC boosted its holdings in WhiteHorse Finance by 23.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 19,418 shares of the investment management company’s stock valued at $188,000 after purchasing an additional 3,683 shares during the last quarter. 13.20% of the stock is owned by institutional investors and hedge funds.

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.