Turtle Beach Corporation (NASDAQ:TBCH) Receives Average Rating of “Hold” from Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has been given an average rating of “Hold” by the seven research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $16.80.

A number of equities analysts have recently weighed in on the company. Wedbush lowered their target price on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. B. Riley Financial lowered their price objective on Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Craig Hallum restated a “buy” rating and set a $15.00 price objective on shares of Turtle Beach in a research note on Friday, May 8th. Oppenheimer restated an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Finally, Weiss Ratings lowered Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th.

Insider Buying and Selling

In other Turtle Beach news, Director Katherine Lee Scherping sold 19,902 shares of the firm’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 transaction, the director owned 14,465 shares in the company, valued at $168,083.30. This trade represents a 57.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 28,845 shares of company stock worth $348,558. 3.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Turtle Beach

A number of hedge funds have recently added to or reduced their stakes in TBCH. LSV Asset Management bought a new position in shares of Turtle Beach in the 3rd quarter valued at $2,304,000. Pullen Investment Management LLC increased its stake in shares of Turtle Beach by 94.3% in the 4th quarter. Pullen Investment Management LLC now owns 143,337 shares of the company’s stock valued at $2,011,000 after purchasing an additional 69,558 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Turtle Beach by 290.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company’s stock valued at $442,000 after purchasing an additional 20,664 shares during the last quarter. AlphaQuest LLC increased its stake in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after purchasing an additional 1,693 shares during the last quarter. Finally, North Star Investment Management Corp. increased its stake in shares of Turtle Beach by 20.4% in the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock valued at $2,100,000 after purchasing an additional 35,144 shares during the last quarter. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Price Performance

Shares of NASDAQ TBCH opened at $13.08 on Tuesday. The firm has a market cap of $259.64 million, a P/E ratio of 436.00, a price-to-earnings-growth ratio of 0.95 and a beta of 2.28. The company has a current ratio of 2.46, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Turtle Beach has a 1-year low of $9.84 and a 1-year high of $17.39. The business’s 50 day moving average is $11.75 and its 200-day moving average is $12.49.

Turtle Beach (NASDAQ:TBCH) last announced its earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The firm had revenue of $42.17 million for the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. Equities research analysts predict that Turtle Beach will post 0.87 earnings per share for the current 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.