In a recent transaction, Sami Mnaymneh, a significant shareholder of WhiteHorse (NASDAQ:WHF) Finance, Inc. (NASDAQ:WHF), sold 1,000,000 shares of the company's common stock at an average price of $12.15 per share, totaling $12.15 million. Following the sale, Mnaymneh continues to indirectly hold 3,976,258 shares of WhiteHorse Finance .
The transaction was executed on May 29, 2024, and was reported to the public on May 30, 2024. According to the filing, the shares were sold to an institutional investor in a block trade. Mnaymneh is associated with H.I.G.-GPII, Inc., the manager of the general partner of H.I.G. Bayside Loan Opportunity Fund IV, L.P. (the "Bayside Fund"), which owned the sold shares. While Mnaymneh may be seen as having investment power over the shares owned by the Bayside Fund, he disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest.
WhiteHorse Finance, based in Miami, Florida, is a business development company that specializes in providing loan financing solutions. The company's common stock is traded on the NASDAQ under the ticker symbol WHF. This recent transaction may be of interest to investors monitoring insider activity as an indicator of the company's financial health and future prospects.
InvestingPro Insights
As investors digest the news of Sami Mnaymneh's recent sale of WhiteHorse Finance stock, it's crucial to consider the company's financial health and potential return on investment. WhiteHorse Finance, with a market capitalization of $299.6 million and a P/E ratio of 15.84, appears to be maintaining a stable position in the market. The company has reported a revenue growth of 9.52% over the last twelve months as of Q1 2024, showcasing its ability to increase earnings over time.
Notably, WhiteHorse Finance has a robust dividend yield of 12.03%, a compelling factor for income-focused investors. This is supported by the fact that the company has successfully maintained dividend payments for 13 consecutive years, as per InvestingPro Tips. Moreover, the company has been profitable over the last twelve months, which might reassure investors about the company's financial sustainability. However, it's worth mentioning that some analysts have revised their earnings expectations downwards for the upcoming period, which could be a point of consideration for prospective shareholders.
Investors looking for further insights into WhiteHorse Finance can find additional InvestingPro Tips at InvestingPro, which could help in making more informed investment decisions. Currently, there are 4 additional tips available, providing a deeper analysis of the company's financials and market position. To access these valuable insights, remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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