Turtle Beach Corporation (NASDAQ:TBCH) Given Average Rating of “Hold” by Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has been given a consensus rating of “Hold” by the seven brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $16.80.

TBCH has been the topic of several research analyst reports. Zacks Research lowered Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Turtle Beach from a “buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th.

Insider Activity at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the sale, the insider directly owned 1,775,441 shares of the company’s stock, valued at approximately $23,080,733. The trade was a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TBCH. Dimensional Fund Advisors LP grew its position in shares of Turtle Beach by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after purchasing an additional 90,677 shares during the period. LSV Asset Management lifted its holdings in shares of Turtle Beach by 11.2% during the 4th quarter. LSV Asset Management now owns 161,160 shares of the company’s stock valued at $2,261,000 after acquiring an additional 16,260 shares in the last quarter. North Star Investment Management Corp. raised its position in Turtle Beach by 20.4% in the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock valued at $2,100,000 after purchasing an additional 35,144 shares during the period. Pullen Investment Management LLC raised its position in Turtle Beach by 10.8% in the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock valued at $1,611,000 after purchasing an additional 15,529 shares during the period. Finally, Pinnacle Holdings LLC acquired a new position in shares of Turtle Beach during the second quarter worth about $798,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Down 0.2%

Shares of NASDAQ TBCH opened at $12.77 on Thursday. The stock has a market capitalization of $228.71 million, a price-to-earnings ratio of -60.81 and a beta of 2.31. Turtle Beach has a 52 week low of $9.84 and a 52 week high of $17.39. The firm has a 50-day moving average price of $12.63 and a 200 day moving average price of $12.21. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

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

About Turtle Beach

Turtle Beach Corporation is a gaming accessories company that develops, markets and distributes products for console, PC and mobile gaming. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, racing wheels and other gaming peripherals designed to support interactive entertainment and esports.

The company sells products under the Turtle Beach brand and, following its acquisition of Performance Designed Products, also offers products associated with brands such as PDP and its licensed gaming accessories portfolio.