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WhiteHorse Finance, Inc. Stock: price and insider trades · United States
No insider purchase over the last 90 days. The latest, by BOLDUC JOHN, was filed 18 Jun 2026.
WhiteHorse Finance, Inc.: what insiders have been doing
WhiteHorse Finance, Inc., classified in the Finance & Banking sector, is a listed company. Its insiders report their share dealings to SEC (Form 4). Between 23 October 2025 and 23 October 2026, 4 insiders published 41 filings.
On the market, 4 insiders bought (40 purchases totalling €1.3M) while 1 insider sold (1 sale totalling €5,796). The net balance comes to €1.3M on the buying side. A purchase on the market is a deliberate choice to commit personal money, which is why it draws more attention than a grant. The buyers include 2 senior executives, 1 finance chief and 1 chief executive. One trade stands out by size: a purchase of €115k from Aronson Stuart D, disclosed on 26 May 2026, or 0.073% of market capitalisation.
Across the 3,167 companies tracked on its exchange, the median is 24 filings; at 41 filings, this issuer sits above that mark. Since 2016, the database holds 103 purchases and 12 sales by insiders of the company. For the fiscal year to 31 December 2025, the annual 10-K puts net income at 14.3 m USD, and the dividend at 1.44 USD per share.
The data flag 28 purchases as part of a group of insiders buying within 30 days of each other. When several insiders buy within a few weeks of each other, analysts speak of a cluster purchase. The last insider purchase was made public on 18 June 2026, 127 days ago. Filings reach the SEC (Form 4) feed a median of 2 days after the trade. For comparison, the SEC allows two business days to file a Form 4.
Other companies in the same sector with recent insider buying flagged by our signals: ASR Nederland N.V. and Avarda Bank AB. These figures are compiled from regulatory filings published by SEC (Form 4). They describe what insiders did and are not a recommendation.
Insider Decl.
123
Thresholds
n/a
Buy Volume
€5M
103 ops. · all time
Sell Volume
€93M
12 ops. · all time
Who traded when
BuySaleJohn Bolduc30 buys
Stuart D. Aronson9 buys
John Paul Volpe2 buys1 sale
Joyson Thomas1 buy
Since the insiders bought
- +15.4%Entry US$6.55 · Close 16 Oct 2026 US$7.56
- +17.9%Entry US$6.41 · Close 16 Oct 2026 US$7.56
- -12.9%Entry US$7.30 · Close at T+90 US$6.36
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 749 of 26,248 companies
82.3
score / 100
Value90
Quality74
FCF yld49%
Earn yld9.0%
EV/EBITDA·
ROE6.7%
Gross mgn·
Net mgn71%
Debt/EBITDA·
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$7.40
Analyst consensus
3 analysts3.20/5
US$6.50Target US$7.83(+6%)US$9.00
Income statement
RevenueUS$20.2M
Net incomeUS$14.3M26.9% margin
Valuation
PER (trailing)9.4x
PER (forward)7.6x
P/Book0.6x
Beta0.43
Balance sheet & cash
Market capUS$158.9M
Total debtUS$323.8M
Free Cash FlowUS$77.3M
Debt / Equity128%
Profitability & ownership
ROE6.7%
ROA4.3%
% insiders3.9%
% institutions35.4%
Last declaration on 18 June 2026
Declarations123 total
7,690 shares@ US$6.494.5% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-075925:0
Canonical exit: 16 Sept 2026 (T+90)
15,000 shares@ US$6.4115.8% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-074784:0
Canonical exit: 13 Sept 2026 (T+90)
3,570 shares@ US$6.770.015% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-071091:0
Canonical exit: 3 Sept 2026 (T+90)
3,570 shares@ US$6.760.015% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-071091:1
Canonical exit: 3 Sept 2026 (T+90)
3,570 shares@ US$6.870.015% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-071091:2
Canonical exit: 2 Sept 2026 (T+90)
3,570 shares@ US$6.880.015% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-071091:3
Canonical exit: 2 Sept 2026 (T+90)
3,570 shares@ US$6.810.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-070273:0
Canonical exit: 31 Aug 2026 (T+90)
3,570 shares@ US$6.880.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-070273:2
Canonical exit: 30 Aug 2026 (T+90)
3,570 shares@ US$6.760.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-068416:0
Canonical exit: 27 Aug 2026 (T+90)
3,570 shares@ US$6.810.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-068416:2
Canonical exit: 26 Aug 2026 (T+90)
3,570 shares@ US$6.910.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-068416:4
Canonical exit: 25 Aug 2026 (T+90)
3,570 shares@ US$6.900.013% mcap2.4% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-068416:5
Canonical exit: 25 Aug 2026 (T+90)
5,000 shares@ US$6.400.017% mcap6.2% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-066477:1
Canonical exit: 20 Aug 2026 (T+90)
7,000 shares@ US$6.380.024% mcap8.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-066477:0
Canonical exit: 20 Aug 2026 (T+90)
20,000 shares@ US$6.670.073% mcap25.9% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-066477:2
Canonical exit: 19 Aug 2026 (T+90)
8,000 shares@ US$6.950.031% mcap10.9% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-034016:0
Canonical exit: 21 Jun 2026 (T+90)
5,000 shares@ US$7.100.019% mcap6.9% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-034016:1
Canonical exit: 18 Jun 2026 (T+90)
1,000 shares@ US$7.1834.6% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-029728:0
Canonical exit: 11 Jun 2026 (T+90)
4,195 shares@ US$7.130.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-028759:1
Canonical exit: 14 Jun 2026 (T+90)
4,195 shares@ US$7.140.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-028759:2
Canonical exit: 11 Jun 2026 (T+90)
4,195 shares@ US$7.140.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-028759:4
Canonical exit: 10 Jun 2026 (T+90)
4,195 shares@ US$7.120.017% mcap3.0% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-028759:0
Canonical exit: 14 Jun 2026 (T+90)
4,196 shares@ US$7.110.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-025388:2
Canonical exit: 3 Jun 2026 (T+90)
4,196 shares@ US$7.120.7% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-025388:3
Canonical exit: 3 Jun 2026 (T+90)
4,138 shares@ US$7.253.0% of flowCommon Stock, par value $0.001 per shareSEC:0001104659-26-025388:0
Canonical exit: 4 Jun 2026 (T+90)
25 of 123 declarations
About WhiteHorse Finance, Inc.
WhiteHorse Finance, Inc. is a U.S.-listed investment company trading on the Nasdaq under the ticker WHF. For international investors, it is best understood as a business development company (BDC) focused on providing capital to lower middle market companies in the United States. Headquartered in New York, United States, WhiteHorse Finance operates as a specialized credit platform, primarily originating and holding senior secured loans, while also maintaining smaller positions in equity and other structured investments. Its stated investment approach emphasizes credit quality, conservative underwriting, and active portfolio management. Recent company disclosures indicate that the portfolio is concentrated in performing middle-market businesses, with an emphasis on first-lien secured lending and disciplined structuring. ([whitehorsefinance.com](https://www.whitehorsefinance.com/?utm_source=openai))
The company’s history is tied to the broader H.I.G. Capital ecosystem and a dedicated credit investing platform that was later converted into a public corporation. SEC filings describe a BDC conversion in which WhiteHorse Finance, LLC succeeded into WhiteHorse Finance, Inc., improving the clarity of the public listing and aligning the company more closely with the standard structure used by listed BDCs. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1552198/000110465926024735/whf-20251231x10k.htm?utm_source=openai))
Read moreShow less
From an operating standpoint, WhiteHorse Finance focuses on lending to lower middle market businesses, typically in the U.S., where access to flexible but well-structured capital is often important. The firm seeks to generate recurring income from debt investments, while selectively using equity co-investments and joint-venture exposure. Its recent filings show a portfolio made up of 129 positions across 68 companies as of December 31, 2025, with the majority of fair value allocated to first-lien secured loans. That mix suggests a relatively defensive positioning within the direct lending universe, although performance still depends on credit selection, industry concentration, and borrower-specific execution. ([whitehorsefinance.com](https://whitehorsefinance.com/investors/press-releases/news-details/2026/WhiteHorse-Finance-Inc--Announces-Fourth-Quarter-and-Full-Year-2025-Earnings-Results-and-Declares-Quarterly-Distribution-of-0-25-Per-Share-and-Supplemental-Distribution-of-0-01-Per-Share/default.aspx?utm_source=openai))
In competitive terms, WHF operates in a crowded U.S. private credit and BDC market, competing with other listed BDCs, private debt funds, and direct lenders for attractive originations. Its competitive edge comes from its specialization, its sponsor-oriented origination model, and its focus on structure and downside protection. Recent corporate updates also point to an emphasis on shareholder returns: in March 2026 the company reported full-year 2025 results and declared a quarterly distribution of $0.25 per share plus a $0.01 supplemental distribution. In 2025, it also announced a stock repurchase authorization of up to $15.0 million and a temporary waiver reducing the adviser’s incentive fee rate for two quarters, which signals an active capital-allocation and cost-management stance. ([whitehorsefinance.com](https://whitehorsefinance.com/investors/press-releases/news-details/2026/WhiteHorse-Finance-Inc--Announces-Fourth-Quarter-and-Full-Year-2025-Earnings-Results-and-Declares-Quarterly-Distribution-of-0-25-Per-Share-and-Supplemental-Distribution-of-0-01-Per-Share/default.aspx?utm_source=openai))
For French-speaking investors in France, Belgium, or Switzerland, WhiteHorse Finance is therefore a niche income-oriented credit vehicle rather than a traditional operating company. Its Nasdaq listing in the United States makes it a direct proxy for U.S. middle-market lending conditions, portfolio credit quality, and interest-rate dynamics. Investors should view it through the lens of BDC economics: portfolio yield, leverage, credit performance, and distribution sustainability. ([whitehorsefinance.com](https://www.whitehorsefinance.com/?utm_source=openai))
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