Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 19,902 Shares

Turtle Beach Corporation (NASDAQ:TBCH) 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 completion of the sale, the director owned 14,465 shares of the company’s stock, valued at approximately $168,083.30. The trade was a 57.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• 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 transaction of $1,127.00.

Turtle Beach Trading Up 1.5%

Shares of Turtle Beach stock opened at $11.80 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.98 and a quick ratio of 1.19. The stock’s 50 day simple moving average is $12.44 and its 200-day simple moving average is $13.97. The stock has a market cap of $231.28 million, a P/E ratio of 15.13, a P/E/G ratio of 0.81 and a beta of 2.22. Turtle Beach Corporation has a 1-year low of $8.78 and a 1-year high of $17.39.

Hedge Funds Weigh In On Turtle Beach

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its position in shares of Turtle Beach by 9.9% during the 4th quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock worth $647,000 after purchasing an additional 4,170 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Turtle Beach in the fourth quarter valued at about $149,000. Millennium Management LLC acquired a new position in Turtle Beach in the fourth quarter valued at about $2,626,000. AQR Capital Management LLC boosted its stake in Turtle Beach by 7.1% during the fourth quarter. AQR Capital Management LLC now owns 124,953 shares of the company’s stock worth $1,753,000 after buying an additional 8,327 shares during the period. Finally, Windward Management LP purchased a new position in Turtle Beach during the fourth quarter worth about $24,073,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TBCH has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. B. Riley Financial reduced 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 note on Tuesday, March 10th. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Wedbush dropped their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Finally, Oppenheimer restated an “outperform” rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Turtle Beach Company Profile

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.