Traders Buy Large Volume of Call Options on Turtle Beach (NASDAQ:TBCH)

Turtle Beach Corporation (NASDAQ:TBCH) was the target of some unusual options trading on Wednesday. Traders acquired 2,600 call options on the stock. This represents an increase of approximately 86% compared to the average volume of 1,396 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TBCH. Pullen Investment Management LLC grew its holdings in shares of Turtle Beach by 20.6% during the third quarter. Pullen Investment Management LLC now owns 193,581 shares of the company’s stock worth $2,472,000 after purchasing an additional 33,013 shares during the last quarter. WINTON GROUP Ltd purchased a new stake in shares of Turtle Beach in the second quarter valued at about $141,000. AXQ Capital LP acquired a new position in Turtle Beach during the 2nd quarter worth approximately $211,000. Hennessy Advisors Inc. purchased a new position in Turtle Beach in the second quarter worth $150,000. Finally, Pinnacle Holdings LLC purchased a new stake in Turtle Beach during the second quarter worth about $798,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

Turtle Beach Trading Up 4.1%

Shares of TBCH stock traded up $0.68 on Wednesday, hitting $17.27. The stock had a trading volume of 104,129 shares, compared to its average volume of 340,536. The firm has a market capitalization of $309.91 million, a P/E ratio of -344.86 and a beta of 2.36. Turtle Beach has a 1 year low of $9.84 and a 1 year high of $17.49. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.93 and a quick ratio of 0.99. The company’s 50 day moving average price is $14.14 and its 200-day moving average price is $12.67.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $84.70 million during the quarter. Turtle Beach had a negative net margin of 0.17% and a positive return on equity of 0.58%. Analysts anticipate that Turtle Beach will post 0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TBCH has been the topic of several recent research reports. Zacks Research raised shares of Turtle Beach from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 5th. Roth Capital reaffirmed a “buy” rating and set a $18.00 target price on shares of Turtle Beach in a research note on Thursday, October 15th. B. Riley Financial lowered shares of Turtle Beach from a “buy” rating to a “hold” rating and set a $17.00 price target on the stock. in a research note on Friday, November 6th. Wall Street Zen raised shares of Turtle Beach from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Finally, Weiss Ratings raised Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Turtle Beach presently has an average rating of “Moderate Buy” and a consensus target price of $15.80.

Turtle Beach Company Profile

Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications. The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.