In a report released today, Chris Kotowski from Oppenheimer maintained a Buy rating on WhiteHorse (NASDAQ: WHF), with a price target of $16. The company’s shares opened today at $14.60.
Kotowski commented:
“While 2Q18 core net investment income (NII) was slightly below our estimates, we thought that on balance it was a very positive quarter for WHF. The big news in our minds was not so much the earnings, but that we now have an announced pending sale of Aretec Group, a one-time non-performer. At its low, Aretec was marked at $7.6M versus a $20.7M cost, converted to equity, was marked at $37.4M at 6/30 ,and a sale was announced at a premium to that, subsequent to quarter-end. This development in our minds is important on three major fronts: First, it brings WFH’s NAV to $14.87, very close to the $15.30 at IPO.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 11.7% and a 69.8% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Fidus Investment Corporation.
WhiteHorse has an analyst consensus of Moderate Buy, with a price target consensus of $15.
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Based on WhiteHorse’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $13.85 million. In comparison, last year the company had a net profit of $7.28 million.
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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.
