Zacks Investment Research Downgrades Twin River Worldwide (NYSE:TRWH) to Hold

Zacks Investment Research cut shares of Twin River Worldwide (NYSE:TRWH) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

According to Zacks, “Twin River Worldwide Holdings Inc. owns and manages casinos, primarily in Rhode Island, Mississippi and Delaware, as well as a Colorado horse race track which possesses licenses. The company’s properties include Twin River Casino Hotel, Tiverton Casino Hotel, Hard Rock Hotel & Casino, Dover Downs Hotel Casino and Arapahoe Park. Twin River Worldwide Holdings Inc. is based in RI, United States. “

Other analysts have also issued reports about the stock. Cowen assumed coverage on shares of Twin River Worldwide in a report on Thursday, October 10th. They issued a market perform rating and a $24.00 price objective for the company. SunTrust Banks lowered their price objective on shares of Twin River Worldwide to $24.00 and set a hold rating for the company in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Twin River Worldwide presently has an average rating of Hold and a consensus price target of $31.40.

TRWH traded down $1.47 on Thursday, hitting $22.81. The company had a trading volume of 696,125 shares, compared to its average volume of 156,407. The company has a debt-to-equity ratio of 1.67, a quick ratio of 4.39 and a current ratio of 4.46. Twin River Worldwide has a 52-week low of $20.35 and a 52-week high of $33.98. The stock has a fifty day simple moving average of $23.67 and a 200-day simple moving average of $26.44.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Tuesday, October 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Friday, October 11th. This represents a $0.40 annualized dividend and a yield of 1.75%.

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In other Twin River Worldwide news, insider Stephen H. Capp bought 9,000 shares of the stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $21.95 per share, for a total transaction of $197,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 35.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TRWH. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Twin River Worldwide by 144.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,766 shares of the company’s stock valued at $40,000 after purchasing an additional 1,044 shares during the last quarter. Morgan Stanley purchased a new position in shares of Twin River Worldwide during the second quarter valued at approximately $41,000. Meeder Asset Management Inc. purchased a new position in shares of Twin River Worldwide during the third quarter valued at approximately $44,000. Bank of Montreal Can purchased a new position in shares of Twin River Worldwide during the second quarter valued at approximately $52,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Twin River Worldwide during the second quarter valued at approximately $113,000. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Twin River Worldwide Company Profile

There is no company description available for Twin River Worldwide Holdings Inc

Further Reading: What is Considered a Good Return on Equity (ROE)?

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