Turtle Beach (NASDAQ:TBCH) Major Shareholder Sells $1,778,000.00 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the sale, the insider directly owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Dc Vga Llc also recently made the following trade(s):

• On Wednesday, August 12th, Dc Vga Llc sold 5,671 shares of Turtle Beach stock. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00.

Turtle Beach Trading Down 0.6%

NASDAQ TBCH opened at $12.75 on Friday. Turtle Beach Corporation has a 12 month low of $9.84 and a 12 month high of $17.39. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. The company has a market capitalization of $228.35 million, a price-to-earnings ratio of -60.71 and a beta of 2.29. The company’s fifty day moving average price is $12.80 and its two-hundred day moving average price is $12.14.

Institutional Trading of Turtle Beach

A number of institutional investors and hedge funds have recently modified their holdings of TBCH. Deutsche Bank AG boosted its holdings in shares of Turtle Beach by 8.4% in the 4th 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 period. BNP Paribas Financial Markets raised its stake in Turtle Beach by 87.2% during 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 period. State of Wisconsin Investment Board raised its stake in Turtle Beach by 9.4% during 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 period. Franklin Resources Inc. lifted its holdings in Turtle Beach by 13.4% in the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after acquiring an additional 2,335 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Turtle Beach by 21.6% in the third quarter. Envestnet Asset Management Inc. now owns 13,536 shares of the company’s stock worth $215,000 after acquiring an additional 2,408 shares during the last quarter. 67.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.