Katherine Lee Scherping Sells 6,845 Shares of Turtle Beach (NASDAQ:TBCH) Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.10, for a total value of $89,669.50. Following the sale, the director directly owned 24,254 shares of the company’s stock, valued at approximately $317,727.40. The trade was a 22.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Katherine Lee Scherping also recently made the following trade(s):

• On Friday, May 29th, Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock. The stock was sold at an average price of $13.25, for a total value of $26,500.00.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total value of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total value of $1,127.00.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $13.04 on Friday. The stock has a market cap of $258.84 million, a P/E ratio of 434.67, a PEG ratio of 1.15 and a beta of 2.26. The stock has a 50 day simple moving average of $11.29 and a 200 day simple moving average of $12.58. The company has a current ratio of 2.46, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Turtle Beach Corporation has a 1-year low of $9.84 and a 1-year high of $17.39.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.35). The firm had revenue of $42.17 million for the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. Research analysts anticipate that Turtle Beach Corporation will post 0.71 earnings per share for the current year.

Hedge Funds Weigh In On Turtle Beach

A number of institutional investors have recently modified their holdings of TBCH. Envestnet Asset Management Inc. acquired a new position in shares of Turtle Beach during the 2nd quarter worth $154,000. Geode Capital Management LLC acquired a new position in shares of Turtle Beach during the 2nd quarter worth $5,438,000. JPMorgan Chase & Co. acquired a new position in shares of Turtle Beach during the 2nd quarter worth $99,000. Franklin Resources Inc. acquired a new position in shares of Turtle Beach during the 2nd quarter worth $241,000. Finally, Rhumbline Advisers acquired a new position in shares of Turtle Beach during the 2nd quarter worth $568,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TBCH. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial dropped their price objective on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Wedbush dropped their price objective on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Turtle Beach has an average rating of “Hold” and a consensus target price of $16.80.

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.