64,061 Shares in Turtle Beach Corporation $TBCH Bought by Pinnacle Holdings LLC

Pinnacle Holdings LLC acquired a new stake in shares of Turtle Beach Corporation (NASDAQ:TBCH) in the second quarter, HoldingsChannel.com reports. The firm acquired 64,061 shares of the company’s stock, valued at approximately $798,000.

A number of other institutional investors also recently bought and sold shares of TBCH. BNP Paribas Financial Markets boosted its position in Turtle Beach by 87.2% in the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after purchasing an additional 1,392 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Turtle Beach during the 2nd quarter valued at about $76,000. New York State Common Retirement Fund purchased a new stake in shares of Turtle Beach during the 2nd quarter valued at about $81,000. JPMorgan Chase & Co. purchased a new stake in shares of Turtle Beach during the 2nd quarter valued at about $99,000. Finally, State of Wyoming bought a new position in shares of Turtle Beach in the 2nd quarter worth approximately $120,000. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $12.66 on Monday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.30 and a current ratio of 2.38. The stock has a 50-day simple moving average of $12.72 and a two-hundred day simple moving average of $12.14. The firm has a market capitalization of $226.74 million, a PE ratio of -60.29 and a beta of 2.29. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.08). Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%.The company had revenue of $56.37 million during the quarter. Analysts forecast that Turtle Beach Corporation will post 0.68 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TBCH. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research cut shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Craig Hallum reiterated a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Finally, Wall Street Zen cut shares of Turtle Beach from a “buy” rating to a “hold” rating in a research note on Sunday. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Turtle Beach has an average rating of “Hold” and a consensus target price of $16.80.

Insider Buying and Selling

In related news, Director Katherine Lee Scherping sold 6,845 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.10, for a total value of $89,669.50. Following the completion of the sale, the director directly owned 24,254 shares of the company’s stock, valued at approximately $317,727.40. This represents a 22.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Dc Vga Llc sold 140,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the completion of the sale, the insider directly owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. This represents a 6.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 154,516 shares of company stock valued at $1,967,892. 3.40% of the stock is currently owned by corporate insiders.

Turtle Beach Company Profile

Turtle Beach Corporation (NASDAQ:TBCH) is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company’s product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.

Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.