Turtle Beach Corporation (NASDAQ:TBCH) Receives $17.38 Average PT from Brokerages

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $18.30.

A number of brokerages have recently commented on TBCH. Roth Capital reaffirmed a “buy” rating and set a $22.00 price objective on shares of Turtle Beach in a research note on Monday, October 27th. B. Riley initiated coverage on shares of Turtle Beach in a report on Thursday, October 2nd. They issued a “buy” rating and a $21.00 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $13.50 price objective (up previously from $12.00) on shares of Turtle Beach in a research report on Monday, August 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Turtle Beach in a research report on Wednesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $19.00 price target on shares of Turtle Beach in a research note on Friday, August 8th.

Insider Buying and Selling

In other news, major shareholder Dc Vga Llc sold 1,388,888 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $14.41, for a total transaction of $20,013,876.08. Following the completion of the transaction, the insider directly owned 2,061,112 shares of the company’s stock, valued at $29,700,623.92. This represents a 40.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director William Z. Wyatt bought 693,962 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $14.41 per share, for a total transaction of $9,999,992.42. Following the transaction, the director directly owned 693,962 shares in the company, valued at approximately $9,999,992.42. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 3.30% of the stock is owned by insiders.

Institutional Trading of Turtle Beach

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC acquired a new position in shares of Turtle Beach during the 2nd quarter worth about $41,000. AlphaQuest LLC acquired a new position in shares of Turtle Beach during the second quarter valued at approximately $52,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Turtle Beach in the second quarter valued at approximately $55,000. CWM LLC acquired a new stake in shares of Turtle Beach in the second quarter worth approximately $65,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Turtle Beach during the second quarter worth approximately $76,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Stock Performance

NASDAQ TBCH opened at $16.90 on Monday. The firm has a market capitalization of $334.79 million, a P/E ratio of 17.98, a PEG ratio of 0.97 and a beta of 2.01. The stock has a 50-day simple moving average of $15.59 and a two-hundred day simple moving average of $13.94. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. Turtle Beach has a fifty-two week low of $8.78 and a fifty-two week high of $19.50.

Turtle Beach (NASDAQ:TBCH) last posted its earnings results on Wednesday, March 2nd. The company reported $0.84 EPS for the quarter. Turtle Beach had a return on equity of 18.23% and a net margin of 5.53%.The firm had revenue of $132.91 million for the quarter. On average, equities analysts forecast that Turtle Beach will post 1.17 earnings per share for the current year.

Turtle Beach Company Profile

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.