Katherine Lee Scherping Sells 2,000 Shares of Turtle Beach (NASDAQ:TBCH) Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 2,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $13.25, for a total transaction of $26,500.00. Following the completion of the transaction, the director directly owned 22,254 shares of the company’s stock, valued at $294,865.50. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Katherine Lee Scherping also recently made the following trade(s):

• On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The stock was sold at an average price of $13.10, for a total transaction of $89,669.50.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total transaction of $1,127.00.

Turtle Beach Trading Up 1.9%

Shares of Turtle Beach stock opened at $13.04 on Friday. The company has a market capitalization of $258.84 million, a P/E ratio of 434.67, a P/E/G ratio of 1.15 and a beta of 2.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46. The company has a fifty day moving average of $11.29 and a 200 day moving average of $12.58. Turtle Beach Corporation has a fifty-two week low of $9.84 and a fifty-two week high of $17.39.

Turtle Beach (NASDAQ:TBCH) last issued its earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.35). The firm had revenue of $42.17 million during the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. On average, sell-side analysts anticipate that Turtle Beach Corporation will post 0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its holdings in shares of Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Turtle Beach during the 2nd quarter valued at about $76,000. New York State Common Retirement Fund bought a new position in shares of Turtle Beach during the 2nd quarter valued at about $81,000. AlphaQuest LLC boosted its holdings in shares of Turtle Beach by 44.9% during the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after purchasing an additional 1,693 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Turtle Beach in the 2nd quarter valued at about $99,000. Institutional investors own 67.01% of the company’s stock.

Analyst Ratings Changes

TBCH has been the subject of several research reports. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Wedbush dropped their price objective on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Craig Hallum reissued a “buy” rating and set a $15.00 price objective on shares of Turtle Beach in a report on Friday, May 8th. B. Riley Financial dropped their price objective on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $16.80.

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.