PVG Asset Management Corp purchased a new position in shares of WhiteHorse Finance Inc (NASDAQ:WHF) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,000 shares of the investment management company’s stock, valued at approximately $178,000. PVG Asset Management Corp owned 0.06% of WhiteHorse Finance at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sound Income Strategies LLC acquired a new stake in shares of WhiteHorse Finance in the 2nd quarter worth $69,000. Rational Advisors LLC acquired a new stake in shares of WhiteHorse Finance in the 2nd quarter worth $179,000. Eagle Global Advisors LLC acquired a new stake in shares of WhiteHorse Finance in the 2nd quarter worth $182,000. Advisor Group Inc. lifted its stake in shares of WhiteHorse Finance by 34.6% in the 2nd quarter. Advisor Group Inc. now owns 14,134 shares of the investment management company’s stock worth $195,000 after acquiring an additional 3,630 shares during the period. Finally, Mid Atlantic Financial Management Inc. ADV lifted its stake in shares of WhiteHorse Finance by 13.3% in the 1st quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,195 shares of the investment management company’s stock worth $230,000 after acquiring an additional 1,907 shares during the period. Hedge funds and other institutional investors own 16.42% of the company’s stock.
Shares of NASDAQ WHF traded down $0.36 during midday trading on Friday, hitting $13.87. The company had a trading volume of 2,376 shares, compared to its average volume of 55,145. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 0.78. WhiteHorse Finance Inc has a twelve month low of $11.89 and a twelve month high of $15.00. The business has a 50-day simple moving average of $13.40 and a two-hundred day simple moving average of $13.98. The firm has a market capitalization of $289.70 million, a price-to-earnings ratio of 9.25 and a beta of 0.61.
The business also recently disclosed a — dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, October 31st will be paid a $0.195 dividend. This represents a dividend yield of 10.2%. The ex-dividend date of this dividend is Wednesday, October 30th. WhiteHorse Finance’s dividend payout ratio (DPR) is 94.67%.
In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 229,328 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $14.00, for a total transaction of $3,210,592.00. Following the completion of the transaction, the insider now directly owns 6,026 shares in the company, valued at approximately $84,364. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by company insiders.
Several analysts have recently commented on WHF shares. Raymond James started coverage on shares of WhiteHorse Finance in a research note on Tuesday, June 18th. They issued an “outperform” rating and a $16.00 target price for the company. Oppenheimer cut shares of WhiteHorse Finance from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 8th. CIBC restated a “market perform” rating on shares of WhiteHorse Finance in a research note on Thursday, August 8th. BidaskClub upgraded shares of WhiteHorse Finance from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research upgraded shares of WhiteHorse Finance from a “sell” rating to a “hold” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
WhiteHorse Finance Company Profile
WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States. Its investment objective is to generate returns primarily by originating and investing in senior secured loans, including first lien and second lien facilities, to performing lower middle market companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate.
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