Turtle Beach Corporation (TBCH) – What Are Investment Firms Thinking About This Stock?

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. One investment 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 1 year target price among analysts that have issued ratings on the stock in the last year is $16.40.

Several research firms have issued reports on TBCH. Roth Capital reaffirmed a “buy” rating and issued a $18.00 price target on shares of Turtle Beach in a report on Thursday. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Finally, Wall Street Zen raised Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd.

Insider Buying and Selling

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00. Following the completion of the sale, the insider owned 1,775,441 shares of the company’s stock, valued at approximately $23,080,733. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in Turtle Beach by 26.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after buying an additional 90,677 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Turtle Beach during the second quarter worth $741,000. Globeflex Capital L P purchased a new position in shares of Turtle Beach during the second quarter worth $596,000. Pinnacle Holdings LLC purchased a new position in shares of Turtle Beach during the second quarter worth $798,000. Finally, Pullen Investment Management LLC lifted its position in Turtle Beach by 10.8% during the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock valued at $1,611,000 after purchasing an additional 15,529 shares during the period. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Trading Down 6.0%

Shares of NASDAQ TBCH opened at $15.20 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 business’s 50 day moving average price is $12.90 and its 200-day moving average price is $12.38. Turtle Beach has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The company has a market cap of $272.23 million, a price-to-earnings ratio of -72.38 and a beta of 2.36.

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 analysts’ consensus estimates of ($0.30) by ($0.08). The firm had revenue of $56.37 million for the quarter. Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. On average, sell-side analysts expect that Turtle Beach will post 0.68 earnings per share for the current year.

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.