Traders Purchase Large Volume of Turtle Beach Call Options (NASDAQ:TBCH)

Turtle Beach Corporation (NASDAQ:TBCH) was the target of unusually large options trading on Monday. Traders acquired 12,009 call options on the company. This is an increase of 1,534% compared to the typical daily volume of 735 call options.

Turtle Beach Stock Down 1.8%

Shares of NASDAQ TBCH opened at $14.28 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. The stock has a market capitalization of $255.67 million, a PE ratio of -68.21 and a beta of 2.36. Turtle Beach has a one year low of $9.84 and a one year high of $17.39. The business’s fifty day moving average price is $12.79 and its 200-day moving average price is $12.30.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings results 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 net margin of 1.07% and a negative return on equity of 2.26%. The business had revenue of $56.37 million during the quarter. On average, equities research analysts anticipate that Turtle Beach will post 0.68 EPS for the current year.

Insider Buying and Selling at Turtle Beach

In related news, major shareholder Dc Vga Llc sold 140,000 shares of the 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 directly owned 1,921,112 shares in the company, valued at $24,398,122.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Turtle Beach

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd bought a new position in shares of Turtle Beach in the 2nd quarter worth $141,000. Hennessy Advisors Inc. bought a new stake in shares of Turtle Beach in the 2nd quarter valued at about $150,000. AXQ Capital LP purchased a new position in shares of Turtle Beach in the second quarter worth $211,000. Globeflex Capital L P bought a new stake in Turtle Beach in the 2nd quarter worth $596,000. Finally, Bank of New York Mellon Corp purchased a new position in Turtle Beach during the 2nd quarter valued at about $741,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TBCH. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Wall Street Zen raised shares of Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $16.80.

Turtle Beach Company Profile

Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.

The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.

Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.