WhiteHorse Finance, Inc. (NASDAQ:WHF) Short Interest Up 57.0% in March

WhiteHorse Finance, Inc. (NASDAQ:WHF) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 338,100 shares, a growth of 57.0% from the February 28th total of 215,300 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average trading volume of 97,700 shares, the days-to-cover ratio is presently 3.5 days.

WhiteHorse Finance Trading Down 0.1 %

Shares of WHF opened at $9.54 on Friday. The stock’s 50-day moving average price is $10.36 and its 200 day moving average price is $10.74. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $221.74 million, a price-to-earnings ratio of 21.20 and a beta of 1.25. WhiteHorse Finance has a 12-month low of $9.45 and a 12-month high of $13.44.

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 analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $21.01 million for the quarter, compared to the consensus estimate of $22.43 million. WhiteHorse Finance had a net margin of 10.65% and a return on equity of 12.86%. During the same quarter in the prior year, the firm posted $0.46 earnings per share. As a group, research analysts predict that WhiteHorse Finance will post 1.66 earnings per share for the current year.

WhiteHorse Finance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 21st will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 16.14%. The ex-dividend date of this dividend is Friday, March 21st. WhiteHorse Finance’s dividend payout ratio is 327.66%.

Hedge Funds Weigh In On WhiteHorse Finance

A number of hedge funds and other institutional investors have recently made changes to their positions in WHF. Sound Income Strategies LLC increased its stake in WhiteHorse Finance by 7.8% in the fourth quarter. Sound Income Strategies LLC now owns 965,296 shares of the investment management company’s stock valued at $9,344,000 after acquiring an additional 70,234 shares during the period. Two Sigma Advisers LP lifted its stake in WhiteHorse Finance by 8.5% during the fourth quarter. Two Sigma Advisers LP now owns 319,652 shares of the investment management company’s stock worth $3,094,000 after purchasing an additional 25,000 shares during the period. Two Sigma Investments LP boosted its holdings in WhiteHorse Finance by 19.5% during the fourth quarter. Two Sigma Investments LP now owns 211,790 shares of the investment management company’s stock valued at $2,050,000 after purchasing an additional 34,570 shares in the last quarter. Millennium Management LLC grew its stake in shares of WhiteHorse Finance by 172.4% in the 4th quarter. Millennium Management LLC now owns 129,981 shares of the investment management company’s stock valued at $1,258,000 after purchasing an additional 82,263 shares during the period. Finally, Independent Advisor Alliance acquired a new position in shares of WhiteHorse Finance in the 4th quarter worth approximately $735,000. 13.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. reduced their price target on shares of WhiteHorse Finance from $9.50 to $9.00 and set an “underweight” rating for the company in a report on Monday, March 10th.

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.