Turtle Beach (NASDAQ:TBCH) Major Shareholder Dc Vga Llc Sells 140,000 Shares of Stock

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 140,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.70, for a total value of $1,778,000.00. Following the completion of the transaction, the insider directly owned 1,921,112 shares of the company’s stock, valued at approximately $24,398,122.40. This represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Dc Vga Llc also recently made the following trade(s):

• On Wednesday, August 12th, Dc Vga Llc sold 5,671 shares of Turtle Beach stock. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $12.87 on Thursday. The company has a market cap of $230.50 million, a P/E ratio of -61.29 and a beta of 2.29. Turtle Beach Corporation has a twelve month low of $9.84 and a twelve month high of $17.39. The company’s 50-day moving average price is $12.79 and its 200-day moving average price is $12.14. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Craig Hallum restated a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Turtle Beach presently has a consensus rating of “Hold” and an average price target of $16.80.

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Turtle Beach by 87.2% during the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after purchasing an additional 1,392 shares during the last quarter. Lazard Asset Management LLC acquired a new position in Turtle Beach in the 2nd quarter valued at about $76,000. New York State Common Retirement Fund acquired a new position in Turtle Beach in the 2nd quarter valued at about $81,000. JPMorgan Chase & Co. purchased a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $99,000. Finally, State of Wyoming purchased a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $120,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Company Profile

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.