Anthony Tamer, a significant shareholder in WhiteHorse (NASDAQ:WHF) Finance, Inc. (NASDAQ:WHF), has sold a substantial block of shares in the company. In a transaction dated May 29, 2024, Tamer parted with 1,000,000 shares at a price of $12.15 per share, totaling $12.15 million.
The recent sale by Tamer is noteworthy as it represents a significant divestiture of WhiteHorse Finance stock. Following the transaction, the remaining holdings of the Bayside Fund, which Tamer is associated with as a control person, amount to 3,976,258 shares of the company's common stock.
It is important to note that Tamer, through his relationship with H.I.G.-GPII, Inc., which manages the general partner of H.I.G. Bayside Loan Opportunity Fund IV, L.P. (the "Bayside Fund"), may be regarded as having investment power over the shares owned by the Bayside Fund. However, Tamer has disclaimed beneficial ownership of these shares, except to the extent of his direct financial interest.
In addition to the Bayside Fund's holdings, Tamer is connected to THM Selector, LLC, which owns 450,439 shares of WhiteHorse Finance. Tamer's control over THM Selector, LLC may also be seen as having investment power over these shares, but once again, he disclaims beneficial ownership except for his direct pecuniary interest.
Investors and market watchers often keep a close eye on insider transactions such as these, as they can provide valuable insights into the perspectives of those most intimately familiar with the company.
The transaction was executed in a block trade to an institutional investor, indicating a single bulk transfer rather than multiple smaller trades. This method of selling large quantities of shares is commonly used by substantial shareholders to manage their positions with minimal market disruption.
WhiteHorse Finance, Inc., based in Miami, Florida, is a business development company that specializes in originating and investing in loans and securities of privately held small-cap companies. The sale by Tamer comes amidst the company's ongoing efforts to navigate the financial landscape and deliver value to its shareholders.
The details of the sale were disclosed in a Form 4 filing with the Securities and Exchange Commission, which is a requirement for insiders to report their transactions in company stock. The filing was signed on behalf of Anthony Tamer by Marco Collazos, Attorney-in-Fact, on May 30, 2024.
InvestingPro Insights
Amidst the significant share sale by Anthony Tamer, investors in WhiteHorse Finance, Inc. (NASDAQ:WHF) may find the following InvestingPro Data and InvestingPro Tips useful for contextualizing the company's current financial health and future prospects. WhiteHorse Finance's market capitalization stands at 299.6 million USD, reflecting its size and scale within the small-cap market it serves. With a P/E Ratio of 15.84, the company is positioned in the market with a valuation metric that investors can compare to industry peers.
From a performance standpoint, WhiteHorse Finance has reported a revenue growth of 9.52% over the last twelve months as of Q1 2024, signaling a positive trajectory in earnings. However, the quarterly revenue growth shows a slight contraction of -2.63% for Q1 2024, which investors may want to monitor in relation to the company's longer-term performance trends.
One of the InvestingPro Tips highlights that WhiteHorse Finance pays a significant dividend to shareholders, which currently stands at a yield of 12.03%. This dividend yield is particularly substantial and may appeal to income-focused investors, especially considering the company has maintained dividend payments for 13 consecutive years. Additionally, the company has been profitable over the last twelve months, providing further confidence in its ability to sustain dividend payments.
For those interested in further analysis and additional insights, there are more InvestingPro Tips available on the WhiteHorse Finance InvestingPro page, which can be accessed at: https://www.investing.com/pro/WHF. These tips include observations such as analysts having revised their earnings downwards for the upcoming period and an implication of poor free cash flow yield based on current valuations. Subscribers can utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to these valuable insights.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.