WHF WhiteHorse Finance, Inc.

BULLISH Impact: 5/10 Insider Cluster (2 insiders)
Horizon weeks Filed May 29, 2026 Processed 11d 9h ago
Insider cluster: 2 insiders, $69K total
Latest settled — T+5d
WHF ▼ -4.31% at T+5d
LONG call ✗ call lost -4.31% · α vs SPY -1.56% · entry $6.96 → $6.66
Next anchor: T+20d in 19d
Last close $6.68 (close Jun 8) · -4.02% from $6.96 entry
Entry anchored
May 29, 03:59 PM ET
via Databento tick
T+1d
-1.01%
call -1.01% · α -1.16%
$6.89
settled 9d ago
T+5d
-4.31%
call -4.31% · α -1.56%
$6.66
settled 5d ago
T+20d
call — · α —
in 19d
T+60d
call — · α —
in 3mo

Price Chart

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Executive Summary

Two WhiteHorse Finance insiders, including CEO Stuart Aronson and Director John Bolduc, made open-market purchases totaling $69K over a 7-day window. CEO Aronson's $45K purchase at $6.38 and Bolduc's three $24K purchases at $6.76-$6.91 represent insider buying at a company with a $145M market cap and heavily bearish analyst consensus (0% bullish). The cluster is small relative to market cap (~0.05%) but includes C-suite participation, which amplifies the buy signal per academic literature.

Key Financial Metrics

Direction
buying
Total Value
$69.0K
Insiders
2

Actionable Insight

CEO and director buying at current levels near $6.38-$6.91 suggests insiders see value below analyst consensus. Monitor upcoming quarterly earnings for potential positive catalyst. The cluster is small but C-suite participation makes it a modest bullish signal — consider accumulating on weakness if price dips below $6.38.

Key Facts

  • CEO Stuart Aronson purchased 7,000 shares at $6.38 for $45K on 2026-05-22
  • Director John Bolduc made three open-market purchases totaling 10,710 shares at $6.76-$6.91 for $73K on 2026-05-27 to 2026-05-29
  • Total insider buying of $69K represents ~0.05% of WHF's $145M market cap
  • Analyst consensus is 0% bullish (0 Strong Buy, 6 Hold, 5 Sell, 1 Strong Sell)
  • Prior 30-day insider activity shows 6 buys totaling $271K, indicating sustained insider conviction

Financial Impact

Insider purchases total $69K, or ~0.05% of market cap — modest in absolute terms but notable for a small-cap BDC with bearish consensus

insider ownershipmarket sentiment

Risk Factors

  • Insider buying is small relative to market cap (~0.05%) and may not reflect material conviction
  • Analyst consensus is heavily bearish (0% bullish) — insiders could be wrong or buying for non-informational reasons
  • WHF is a BDC with potential credit risk in its loan portfolio that could pressure NAV

Market Snapshot

Exchange
Nasdaq
Analyst Consensus
0% bullish (12 analysts)

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

DocumentAccession Number
CLUSTER Data (Synthetic)cluster-WHF-1780094732006
8 reports for WHF
Performance horizon
75% Hit rate 3 of 4 directional calls best @ T+20▲ +8.63%Mar 13, 2026
Filters
Rows
Reports for WHF — sortable, filterable
Type Now
Jun 6, 2026
4d ago
Insider Cluster
NEUTRAL ★ 2/10
$6.81 awaiting T+1awaiting T+1$6.68 (−1.91%)
Jun 4, 2026
6d ago
Insider Cluster
NEUTRAL ★ 3/10
$6.79 $6.66▼ −1.91%▲ +0.68%$6.68 (−1.62%)
Jun 3, 2026
7d ago
Insider Cluster
BULLISH ★ 5/10
$6.76 $6.79▲ +0.44%▲ +0.04%$6.68 (−1.18%)
May 29, 2026
11d ago
Insider Cluster
BULLISH ★ 5/10
$6.96 $6.89▼ −1.01%▼ −1.16%$6.68 (−4.02%)
May 27, 2026
14d ago
Insider Cluster
BULLISH ★ 5/10
$6.80 $6.70▼ −1.47%▼ −2.02%$6.68 (−1.76%)
Mar 16, 2026
12w ago
Insider Cluster
BULLISH ★ 6/10
$7.07 $7.31▲ +3.39%▲ +3.12%$6.68 (−5.52%)
Mar 13, 2026
12w ago
Insider Cluster
BULLISH ★ 6/10
$7.07 $7.07· 0.00%▼ −1.02%$6.68 (−5.52%)
Mar 4, 2026
13w ago
8-K
NEUTRAL ★ 4/10
$7.03 $7.16▲ +1.92%▲ +3.24%$6.68 (−4.92%)
Showing 8 of 8

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