Turtle Beach Corporation (NASDAQ:TBCH) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned an average rating of “Hold” from the seven research firms that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $16.80.

Several equities research analysts have weighed in on TBCH shares. Wall Street Zen cut Turtle Beach from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Craig Hallum reissued a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $12.70, for a total value of $1,778,000.00. Following the transaction, the insider owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. This represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Turtle Beach

A number of institutional investors have recently modified their holdings of TBCH. Windward Management LP bought a new stake in shares of Turtle Beach in the fourth quarter valued at about $24,073,000. Bank of America Corp DE bought a new stake in shares of Turtle Beach in the 2nd quarter valued at about $6,930,000. Goldman Sachs Group Inc. increased its holdings in Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after buying an additional 457,125 shares during the period. Geode Capital Management LLC purchased a new position in Turtle Beach during the second quarter valued at approximately $5,438,000. Finally, Franklin Resources Inc. raised its stake in Turtle Beach by 1,338.6% in the fourth quarter. Franklin Resources Inc. now owns 283,780 shares of the company’s stock worth $3,981,000 after buying an additional 264,054 shares in the last quarter. 67.01% of the stock is owned by hedge funds and other institutional investors.

Turtle Beach Stock Performance

NASDAQ TBCH opened at $12.45 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach has a 1-year low of $9.84 and a 1-year high of $17.39. The business has a 50 day simple moving average of $12.67 and a two-hundred day simple moving average of $12.16. The stock has a market capitalization of $222.98 million, a PE ratio of -59.29 and a beta of 2.29.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) earnings per share (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 firm had revenue of $56.37 million for the quarter. On average, research analysts predict that Turtle Beach will post 0.68 EPS for the current fiscal year.

About Turtle Beach

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.