Brokerages Set Turtle Beach Corporation (NASDAQ:TBCH) Target Price at $17.00

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $17.00.

Several brokerages have recently weighed in on TBCH. Oppenheimer reissued an “outperform” rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a research report on Friday, March 27th. B. Riley Financial decreased their target price on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 10th. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Wednesday, February 4th. Finally, Wedbush decreased their target price on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th.

Insider Activity

In other news, Director Katherine Lee Scherping sold 19,902 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $11.62, for a total transaction of $231,261.24. Following the sale, the director owned 14,465 shares of the company’s stock, valued at approximately $168,083.30. This represents a 57.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.30% of the company’s stock.

Institutional Trading of Turtle Beach

Several hedge funds have recently made changes to their positions in the business. North Star Investment Management Corp. lifted its position in shares of 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 purchasing an additional 35,144 shares in the last quarter. Pullen Investment Management LLC increased its stake in shares of Turtle Beach by 10.8% during the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock worth $1,611,000 after buying an additional 15,529 shares during the period. Invesco Ltd. increased its stake in shares of Turtle Beach by 9.9% during the fourth quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock worth $647,000 after buying an additional 4,170 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Turtle Beach during the fourth quarter worth approximately $149,000. Finally, Millennium Management LLC purchased a new stake in shares of Turtle Beach during the fourth quarter worth approximately $2,626,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Price Performance

Turtle Beach stock opened at $11.45 on Monday. The company has a fifty day simple moving average of $11.61 and a 200-day simple moving average of $13.26. The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $227.28 million, a price-to-earnings ratio of 14.68, a PEG ratio of 0.79 and a beta of 2.30. Turtle Beach has a 52-week low of $8.78 and a 52-week high of $17.39.

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.