Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 2,000 Shares

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $13.25, for a total value of $26,500.00. Following the completion of the transaction, the director owned 22,254 shares in the company, valued at $294,865.50. This represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Katherine Lee Scherping also recently made the following trade(s):

• On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The shares were sold at an average price of $13.10, for a total value of $89,669.50.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total value of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total value of $1,127.00.

Turtle Beach Stock Performance

Turtle Beach stock traded up $0.24 during mid-day trading on Friday, reaching $13.04. 314,114 shares of the company’s stock were exchanged, compared to its average volume of 298,282. The business’s fifty day simple moving average is $11.29 and its 200 day simple moving average is $12.58. The firm has a market capitalization of $258.84 million, a PE ratio of 434.67, a P/E/G ratio of 1.13 and a beta of 2.26. Turtle Beach Corporation has a one year low of $9.84 and a one year high of $17.39. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The business 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%. On average, sell-side analysts expect that Turtle Beach Corporation will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Turtle Beach

Several hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in Turtle Beach by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after purchasing an additional 90,677 shares during the last quarter. North Star Investment Management Corp. lifted its stake in Turtle Beach by 20.4% during the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after purchasing an additional 35,144 shares during the last quarter. Pullen Investment Management LLC lifted its stake in Turtle Beach by 10.8% during the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock worth $1,611,000 after purchasing an additional 15,529 shares during the last quarter. Invesco Ltd. lifted its stake in Turtle Beach by 9.9% during the fourth quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock worth $647,000 after purchasing an additional 4,170 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Turtle Beach during the fourth quarter worth about $149,000. Institutional investors own 67.01% of the company’s stock.

Analyst Upgrades and Downgrades

TBCH has been the topic of a number of recent analyst reports. Weiss Ratings lowered Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. Craig Hallum reiterated a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Oppenheimer reiterated an “outperform” rating and issued a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Finally, B. Riley Financial reduced their price target on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $16.80.

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.