B. Riley Cuts WhiteHorse Finance (WHF) Price Target to $7.50 After Soft Q3 Results

Core Viewpoint - WhiteHorse Finance, Inc. (NASDAQ:WHF) is facing challenges with its recent financial performance, leading to a reduced price target and concerns over dividend coverage [2][3]. Financial Performance - B. Riley has cut the price target for WHF from $9 to $7.50 while maintaining a Neutral rating, citing that the third-quarter results did not fully cover the dividend and that NAV per share has declined [2]. - As of September 30, 2025, WHF's investment portfolio had a fair value of $568.4 million, down from $629.3 million on June 30, 2025, with a weighted average effective yield of 11.6% on income-producing debt investments [4]. Dividend and Shareholder Returns - The board has authorized a stock buyback program of up to $15.0 million and reset the regular quarterly distribution to $0.25 per share, with potential for supplemental payouts if market conditions improve [3]. Investment Strategy - WHF is identified as a close-end investment company that provides loans to private, lower middle-market businesses in the US, indicating a focus on niche lending [4].