B.Riley FBR analyst Timothy P. Hayes reiterated a Buy rating on WhiteHorse (WHF) today and set a price target of $14.50. The company’s shares closed yesterday at $13.46.
Hayes commented:
“We reiterate our Buy rating and $14.50 price target on shares of WhiteHorse Finance, Inc. (WHF) following 3Q18 results that were headlined by a 4% increase in NAV per share Q/Q driven by a higher gain on Aretec than we had expected, reduced base management fees on assets acquired utilizing over 1.0x leverage, a near-term reduction in base management fees on cash as the Aretec proceeds are redeployed, the potential formation of a joint venture, and benign credit. As we expected, WHF recognized a double-digit markup of its portfolio company, Aretec, given increased certainty that a sale would close.”
According to TipRanks.com, Hayes is a 3-star analyst with an average return of 6.3% and a 74.4% success rate. Hayes covers the Financial sector, focusing on stocks such as Ready Capital Corporation, Saratoga Investment Corp, and Cherry Hill Mortgage.
Currently, the analyst consensus on WhiteHorse is a Moderate Buy with an average price target of $15.25, implying a 13.3% upside from current levels. In a report released yesterday, Oppenheimer also assigned a Buy rating to the stock with a $16 price target.
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Based on WhiteHorse’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $19.46 million. In comparison, last year the company had a net profit of $9.06 million.
Based on the recent corporate insider activity of 7 insiders, corporate insider sentiment is negative on the stock.
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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.
