I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for News Perception specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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Latest posts by Albert Cantu (see all)
- Earnings Recap: Beazer Homes USA Inc. (NYSE: BZH) - November 6, 2019
- News Alert: Arbor Realty Trust Inc. (NYSE: ABR) - October 29, 2019
- Financial Reports are Key to Consider: WhiteHorse Finance Inc. (NASDAQ: WHF) - October 27, 2019
NEW YORK, October 27, 2019 – Shares of WhiteHorse Finance Inc. (NASDAQ: WHF) lost -0.28% to $14.06. The stock grabbed the investor’s attention and traded 55.858K shares as compared to its average daily volume of 65.29K shares. The stock’s institutional ownership stands at 70.31%.
For the three months ended March 31, 2019, WhiteHorse Finance Inc. (WHF) reported net investment income of approximately $7.60M, compared with approximately $8.60M for the same period in the prior year, representing a decrease of approximately 11.6%. The decrease in net investment income for the year-over-year period was primarily attributable to an increase in interest expense and a decrease in fee income. The decrease in fee income was attributable to a significantly higher amount of non-recurring fee income earned in the three months ended March 31, 2018 from prepayments on several of the Company’s investments.
For the three months ended March 31, 2019, WhiteHorse Finance reported net realized and unrealized losses on investments of $0.60M. This is comprised of net realized losses of $2.00M and net unrealized gains on investments of $1.40M. This compares with net realized and unrealized gains on investments of $5.30M for the three months ended March 31, 2018. The decrease in net realized and unrealized gains on investments for the year-over-year period was primarily attributable to a realized loss of approximately $2.10M generated on the sale of Outcome Health in current quarter and the prior year mark-up of the Company’s equity investment in Aretec Group, Inc. (which was sold in the fourth quarter of 2018).
WhiteHorse Finance reported a net increase in net assets resulting from operations of approximately $7.00M for the three months ended March 31, 2019, which compares with a net increase of $13.90M for the three months ended March 31, 2018.
WhiteHorse Finance’s NAV was $315.00M, or $15.33 per share, as of March 31, 2019, as compared with $315.30M, or $15.35 per share, as of December 31, 2018.
Liquidity and Capital Resources:
As of March 31, 2019, WhiteHorse Finance had cash and cash equivalents of $36.90M, as compared with $33.70M as of December 31, 2018, inclusive of restricted cash. As of March 31, 2019, the Company also had $85.00M of undrawn capacity under its revolving credit facility.
WHF has a market value of $288.88M while its EPS was booked as $1.93 in the last 12 months. The stock has 20.55M shares outstanding. Analyst recommendation for this stock stands at 2.30.