Baird Downgrades WhiteHorse Finance Inc to Neutral

Brokerage firm Baird Downgrades its rating on WhiteHorse Finance Inc(NASDAQ:WHF). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Baird was issued on Aug 9, 2016.

WhiteHorse Finance Inc (WHF) made into the market gainers list on Wednesdays trading session with the shares advancing 2.37% or 0.27 points. Due to strong positive momentum, the stock ended at $11.66, which is also near the day’s high of $11.67. The stock began the session at $11.45 and the volume stood at 24,706 shares. The 52-week high of the shares is $13.7499 and the 52 week low is $9.14. The company has a current market capitalization of $213 M and it has 1,83,03,890 shares in outstanding.

WhiteHorse Finance Inc(WHF) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $13.05M. Analysts had an estimated revenue of $13.22M. Earnings per share were $0.35. Analysts had estimated an EPS of $0.35.

Several Insider Transactions has been reported to the SEC. On Jun 1, 2016, John Bolduc (director) purchased 17,230 shares at $10.35 per share price.Also, On Mar 9, 2016, Gerhard Lombard (CFO) purchased 1,300 shares at $9.92 per share price.On Mar 9, 2016, G Stacy Smith (director) purchased 8,000 shares at $10.00 per share price, according to the Form-4 filing with the securities and exchange commission.

WhiteHorse Finance Inc. (WhiteHorse Finance) is an externally managed non-diversified closed-end management investment company that has elected to be treated as a business development company. The Company is also elected to be treated as a regulated investment company or RIC. The Company is a direct lender targeting debt investments in privately held small-cap companies located in the United States. Its investment objective is to generate risk-adjusted returns primarily by originating and investing in senior secured loans including first lien and second lien facilities to performing small-cap companies across a range of industries that typically carry a floating interest rate based on the London Interbank Offered Rate (LIBOR) and have a term of three to six years. The Company’s investment portfolio consists primarily of senior secured loans across 37 positions in 31 companies. Its investment activities are managed by its investment adviser WhiteHorse Advisers LLC.

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