Wall Street Zen Upgrades Turtle Beach (NASDAQ:TBCH) to Buy

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

TBCH has been the topic of a number of other reports. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Zacks Research cut shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $16.80.

Turtle Beach Price Performance

Shares of NASDAQ TBCH opened at $12.75 on Friday. The stock has a market capitalization of $228.35 million, a price-to-earnings ratio of -60.71 and a beta of 2.29. Turtle Beach has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The business has a 50-day moving average of $12.80 and a 200-day moving average of $12.13. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30.

Insider Buying and Selling

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the sale, the insider owned 1,775,441 shares of the company’s stock, valued at approximately $23,080,733. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Katherine Lee Scherping sold 2,000 shares of the stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $13.25, for a total value of $26,500.00. Following the completion of the transaction, the director owned 22,254 shares of the company’s stock, valued at $294,865.50. This represents a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 154,516 shares of company stock worth $1,967,892 in the last 90 days. Company insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. acquired a new position in Turtle Beach in the 2nd quarter valued at approximately $154,000. Geode Capital Management LLC acquired a new position in shares of Turtle Beach during the second quarter worth $5,438,000. JPMorgan Chase & Co. bought a new stake in shares of Turtle Beach in the second quarter worth $99,000. Franklin Resources Inc. acquired a new stake in Turtle Beach in the second quarter valued at $241,000. Finally, Rhumbline Advisers acquired a new stake in Turtle Beach in the second quarter valued at $568,000. 67.01% of the stock is owned by institutional investors.

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.