Turtle Beach Corporation (NASDAQ:TBCH) Given Consensus Recommendation of “Hold” by Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has received a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.80.

TBCH has been the subject of several research analyst reports. Weiss Ratings cut shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $18.00 target price (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. B. Riley Financial dropped their target price on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Craig Hallum restated a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a research report on Friday, May 8th.

Insider Buying and Selling at Turtle Beach

In other news, Director Katherine Lee Scherping sold 19,902 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24. Following the completion of the sale, the director owned 14,465 shares in the company, valued at $168,083.30. The trade was a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Turtle Beach

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after acquiring an additional 90,677 shares during the period. North Star Investment Management Corp. grew its holdings in Turtle Beach by 20.4% during the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after acquiring an additional 35,144 shares during the period. Pullen Investment Management LLC grew its holdings in Turtle Beach by 10.8% during the 1st quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock worth $1,611,000 after acquiring an additional 15,529 shares during the period. Invesco Ltd. grew its holdings in Turtle Beach by 9.9% during the 4th quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock worth $647,000 after acquiring an additional 4,170 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Turtle Beach during the 4th quarter worth $149,000. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Up 3.8%

Shares of TBCH opened at $11.12 on Friday. The company has a market capitalization of $220.73 million, a P/E ratio of 370.67, a PEG ratio of 0.95 and a beta of 2.26. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.46 and a quick ratio of 1.12. Turtle Beach has a one year low of $9.84 and a one year high of $17.39. The business’s 50 day simple moving average is $11.29 and its 200-day simple moving average is $12.68.

Turtle Beach (NASDAQ:TBCH) last announced its earnings results on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.35). Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%.The business had revenue of $42.17 million during the quarter. As a group, sell-side analysts predict that Turtle Beach will post 0.71 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.