Turtle Beach (NASDAQ:TBCH) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Turtle Beach (NASDAQ:TBCH) from a hold rating to a buy rating in a research note issued to investors on Saturday.

TBCH has been the subject of several other reports. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Craig Hallum reaffirmed a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Turtle Beach presently has an average rating of “Hold” and a consensus target price of $16.80.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $12.75 on Friday. The stock has a market cap of $228.35 million, a P/E ratio of -60.71 and a beta of 2.29. The firm’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $12.14. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

Insider Transactions at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the completion of the transaction, the insider directly owned 1,775,441 shares in the company, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Katherine Lee Scherping sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the completion of the sale, the director directly owned 22,254 shares in the company, valued at approximately $294,865.50. This represents a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 154,516 shares of company stock worth $1,967,892. Corporate insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TBCH. Deutsche Bank AG raised its stake in Turtle Beach by 8.4% during the fourth quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock valued at $163,000 after buying an additional 898 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Turtle Beach by 87.2% in the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after acquiring an additional 1,392 shares during the last quarter. State of Wisconsin Investment Board grew its stake in shares of Turtle Beach by 9.4% in the fourth quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after acquiring an additional 2,132 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Turtle Beach by 13.4% during the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock valued at $314,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Turtle Beach by 21.6% during the third quarter. Envestnet Asset Management Inc. now owns 13,536 shares of the company’s stock valued at $215,000 after acquiring an additional 2,408 shares in the last quarter. Institutional investors own 67.01% of the company’s stock.

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.