Overview

* WhiteHorse Finance ( WHF ) Q3 total investment income fell 6.1% from the previous quarter

* Company announces $15 mln stock repurchase program

* Net asset value per share decreased 3.5% from prior quarter

Outlook

* WhiteHorse Advisers reduces incentive fee to 17.5% for next two quarters

Result Drivers

* PORTFOLIO REPOSITIONING - CEO Stuart Aronson notes ongoing efforts to reposition the portfolio and address legacy underperformers

* NEW ORIGINATION FOCUS - Co is focusing on new origination opportunities with attractive risk-adjusted returns

* ADVISER FEE REDUCTION - WhiteHorse Advisers voluntarily reduced incentive fee on net investment income to support earnings

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $11.41

Asset

Value

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the closed end funds peer group is "hold"

* Wall Street's median 12-month price target for WhiteHorse Finance Inc ( WHF ) is $9.00, about 21% above its November 7 closing price of $7.11

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)