Marshall Wace LLP purchased a new stake in shares of WhiteHorse Finance Inc (NASDAQ:WHF) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 87,391 shares of the investment management company’s stock, valued at approximately $1,241,000. Marshall Wace LLP owned approximately 0.43% of WhiteHorse Finance at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Citigroup Inc. lifted its holdings in shares of WhiteHorse Finance by 164.4% during the fourth quarter. Citigroup Inc. now owns 4,760 shares of the investment management company’s stock valued at $61,000 after purchasing an additional 2,960 shares in the last quarter. Advisor Group Inc. lifted its holdings in WhiteHorse Finance by 588.5% in the fourth quarter. Advisor Group Inc. now owns 13,164 shares of the investment management company’s stock valued at $167,000 after acquiring an additional 11,252 shares during the period. Mid Atlantic Financial Management Inc. ADV lifted its holdings in WhiteHorse Finance by 13.3% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 16,195 shares of the investment management company’s stock valued at $230,000 after acquiring an additional 1,907 shares during the period. Acadian Asset Management LLC bought a new position in WhiteHorse Finance in the first quarter valued at about $409,000. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its holdings in WhiteHorse Finance by 97.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 62,045 shares of the investment management company’s stock valued at $881,000 after acquiring an additional 30,609 shares during the period. 11.40% of the stock is currently owned by hedge funds and other institutional investors.
WHF has been the topic of a number of recent research reports. Raymond James set a C$80.00 target price on West Fraser Timber and gave the company a “strong-buy” rating in a report on Tuesday, June 18th. BidaskClub raised WhiteHorse Finance from a “sell” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. WhiteHorse Finance has a consensus rating of “Hold” and a consensus price target of $14.63.
WhiteHorse Finance (NASDAQ:WHF) last released its earnings results on Wednesday, May 8th. The investment management company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. WhiteHorse Finance had a return on equity of 9.50% and a net margin of 80.64%. The firm had revenue of $15.92 million during the quarter, compared to analysts’ expectations of $15.46 million. Equities analysts anticipate that WhiteHorse Finance Inc will post 1.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Investors of record on Thursday, June 20th were given a dividend of $0.355 per share. This represents a $1.42 annualized dividend and a dividend yield of 10.00%. The ex-dividend date was Wednesday, June 19th. WhiteHorse Finance’s dividend payout ratio is currently 94.67%.
In other WhiteHorse Finance news, major shareholder Anthony Tamer sold 229,328 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was 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 owns 6,026 shares in the company, valued at approximately $84,364. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kevin Francis Burke purchased 3,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were purchased at an average price of $14.00 per share, with a total value of $42,000.00. Following the acquisition, the director now directly owns 7,530 shares in the company, valued at $105,420. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
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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