Globeflex Capital L P Invests $596,000 in Turtle Beach Corporation $TBCH

Globeflex Capital L P purchased a new stake in Turtle Beach Corporation (NASDAQ:TBCH) in the second quarter, Holdings Channel reports. The firm purchased 47,911 shares of the company’s stock, valued at approximately $596,000.

Several other institutional investors and hedge funds have also made changes to their positions in TBCH. Dimensional Fund Advisors LP boosted its holdings in Turtle Beach by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after purchasing an additional 90,677 shares during the period. Pullen Investment Management LLC increased its stake in Turtle Beach by 10.8% during 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 last quarter. LSV Asset Management raised its holdings in shares of Turtle Beach by 11.2% during the fourth quarter. LSV Asset Management now owns 161,160 shares of the company’s stock worth $2,261,000 after purchasing an additional 16,260 shares during the period. Virtus Advisers LLC raised its holdings in shares of Turtle Beach by 124.6% during the third quarter. Virtus Advisers LLC now owns 12,799 shares of the company’s stock worth $204,000 after purchasing an additional 7,100 shares during the period. Finally, WINTON GROUP Ltd bought a new position in shares of Turtle Beach in the 4th quarter worth about $200,000. 67.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TBCH. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a report on Friday, May 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut shares of Turtle Beach from a “buy” rating to a “hold” rating in a report on Sunday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.80.

Turtle Beach Price Performance

Shares of TBCH opened at $12.85 on Wednesday. The company has a market cap of $230.14 million, a P/E ratio of -61.19 and a beta of 2.29. The stock has a fifty day moving average price of $12.71 and a 200 day moving average price of $12.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach Corporation has a 12 month low of $9.84 and a 12 month high of $17.39.

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

Insider Activity

In related 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 value of $1,778,000.00. Following the sale, the insider directly owned 1,921,112 shares in the company, valued at $24,398,122.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Katherine Lee Scherping sold 2,000 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the transaction, the director directly owned 22,254 shares of the company’s stock, valued at $294,865.50. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 147,671 shares of company stock valued at $1,878,223 in the last 90 days. Insiders own 3.40% of the company’s stock.

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.