Turtle Beach Corporation (NASDAQ:TBCH) Stock Has Consensus Price Target of $16.80

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

A number of equities analysts recently weighed in on TBCH shares. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Wall Street Zen raised Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Finally, Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 6th.

Insiders Place Their Bets

In related news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.70, for a total transaction 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 trade represents a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.40% of the company’s stock.

Hedge Funds Weigh In On Turtle Beach

Several institutional investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in Turtle Beach during the second quarter valued at $141,000. AXQ Capital LP purchased a new stake in shares of Turtle Beach in the second quarter valued at $211,000. Hennessy Advisors Inc. purchased a new stake in shares of Turtle Beach in the second quarter valued at $150,000. Pinnacle Holdings LLC purchased a new stake in shares of Turtle Beach in the second quarter valued at $798,000. Finally, Globeflex Capital L P bought a new stake in shares of Turtle Beach in the 2nd quarter worth about $596,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Down 0.9%

Shares of NASDAQ:TBCH opened at $14.40 on Monday. The stock’s 50-day moving average is $12.80 and its 200 day moving average is $12.32. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.39. The company has a market cap of $257.90 million, a PE ratio of -68.57 and a beta of 2.36. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.08). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The company had revenue of $56.37 million for the quarter. Sell-side analysts anticipate that Turtle Beach will post 0.68 EPS for the current year.

About Turtle Beach

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.