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

Zacks Investment Research downgraded shares of Twin River Worldwide (NYSE:TRWH) from a hold rating to a sell rating in a research report report published on Friday, 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. “

A number of other analysts have also recently commented on the stock. Stifel Nicolaus assumed coverage on shares of Twin River Worldwide in a research note on Wednesday, April 24th. They issued a buy rating and a $43.00 price target for the company. Union Gaming Research assumed coverage on shares of Twin River Worldwide in a research note on Thursday, June 20th. They issued a buy rating and a $38.00 price target for the company. Finally, SunTrust Banks cut their price target on shares of Twin River Worldwide to $24.00 and set a hold rating for the company in a research note on Tuesday, August 13th.

Shares of TRWH opened at $21.81 on Friday. Twin River Worldwide has a 12 month low of $20.35 and a 12 month high of $33.98. The stock’s fifty day simple moving average is $26.36. The company has a quick ratio of 0.88, a current ratio of 4.46 and a debt-to-equity ratio of 1.67.

Twin River Worldwide (NYSE:TRWH) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.03). The business had revenue of $143.22 million for the quarter, compared to analysts’ expectations of $157.45 million. As a group, equities research analysts predict that Twin River Worldwide will post 1.84 EPS for the current year.

The company also recently declared a special dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, July 8th.

In other Twin River Worldwide news, major shareholder Chatham Asset Management, Llc sold 649,238 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $29.93, for a total value of $19,431,693.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 1,830,782 shares of company stock valued at $53,883,657. Corporate insiders own 35.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley bought a new position in shares of Twin River Worldwide in the second quarter valued at about $41,000. Bank of Montreal Can bought a new position in shares of Twin River Worldwide in the second quarter valued at about $52,000. Tower Research Capital LLC TRC bought a new position in shares of Twin River Worldwide in the second quarter valued at about $113,000. Factorial Partners LLC bought a new position in shares of Twin River Worldwide in the second quarter valued at about $119,000. Finally, FNY Investment Advisers LLC increased its position in Twin River Worldwide by 507.1% during the second quarter. FNY Investment Advisers LLC now owns 4,250 shares of the company’s stock worth $126,000 after acquiring an additional 3,550 shares during the period. 76.49% of the stock is currently owned by institutional investors.

Twin River Worldwide Company Profile

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

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