Turtle Beach (NASDAQ:TBCH) Stock Rating Upgraded by Wall Street Zen

Turtle Beach (NASDAQ:TBCH) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research lowered Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.80.

Turtle Beach Price Performance

Shares of NASDAQ TBCH opened at $13.99 on Friday. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39. The stock has a market cap of $250.56 million, a PE ratio of -66.62 and a beta of 2.36. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The company has a 50-day moving average of $12.67 and a 200 day moving average of $12.20.

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

Insider Buying and Selling

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of Turtle Beach stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.40% of the stock is owned by company insiders.

Institutional Trading of Turtle Beach

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after buying an additional 90,677 shares during the period. Pinnacle Holdings LLC purchased a new position in Turtle Beach in the second quarter worth approximately $798,000. Bank of New York Mellon Corp purchased a new position in Turtle Beach in the second quarter worth approximately $741,000. Globeflex Capital L P acquired a new stake in Turtle Beach during the second quarter worth $596,000. Finally, North Star Investment Management Corp. increased 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 acquiring an additional 35,144 shares during the last quarter. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Turtle Beach Company Profile

Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.

The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.

Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.