Brokerages Set Turtle Beach Corporation (NASDAQ:TBCH) Price Target at $16.80

Turtle Beach Corporation (NASDAQ:TBCH) has been given an average recommendation of “Hold” by the seven research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $16.80.

Several analysts have issued reports on TBCH shares. Wall Street Zen downgraded shares of Turtle Beach from a “buy” rating to a “hold” rating in a research report on Sunday. Craig Hallum reissued a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a research report on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Finally, Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th.

Turtle Beach Price Performance

Shares of NASDAQ TBCH opened at $12.85 on Friday. Turtle Beach has a 1-year low of $9.84 and a 1-year high of $17.39. The business has a 50-day moving average of $12.71 and a 200-day moving average of $12.15. 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 $230.14 million, a price-to-earnings ratio of -61.19 and a beta of 2.29.

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

Insider Transactions at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider directly owned 1,921,112 shares in the company, valued at $24,398,122.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the sale, the director directly owned 22,254 shares in the company, valued at approximately $294,865.50. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 147,671 shares of company stock valued at $1,878,223. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds have recently bought and sold shares of TBCH. Windward Management LP purchased a new stake in Turtle Beach during the 4th quarter worth approximately $24,073,000. Goldman Sachs Group Inc. boosted its stake in shares of Turtle Beach by 328.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after buying an additional 457,125 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Turtle Beach during the second quarter worth approximately $6,930,000. Dimensional Fund Advisors LP grew its position in shares of 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 buying an additional 90,677 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in shares of Turtle Beach during the second quarter worth approximately $5,438,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

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.