Turtle Beach Corporation (NASDAQ:TBCH) Receives $16.80 Average Price Target from Brokerages

Turtle Beach Corporation (NASDAQ:TBCH) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.80.

TBCH has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Wall Street Zen lowered Turtle Beach from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Zacks Research cut Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th.

Insider Activity

In related news, major shareholder Dc Vga Llc sold 5,671 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TBCH. Dimensional Fund Advisors LP boosted its holdings in shares of Turtle Beach by 26.1% during 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 last quarter. LSV Asset Management boosted its stake in Turtle Beach by 11.2% in the 4th quarter. LSV Asset Management now owns 161,160 shares of the company’s stock worth $2,261,000 after buying an additional 16,260 shares during the last quarter. North Star Investment Management Corp. boosted its stake in Turtle Beach by 20.4% in the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after buying an additional 35,144 shares during the last quarter. Pullen Investment Management LLC grew its holdings in Turtle Beach by 10.8% in the 1st quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock valued at $1,611,000 after buying an additional 15,529 shares during the period. Finally, Pinnacle Holdings LLC purchased a new stake in Turtle Beach in the 2nd quarter valued at about $798,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Turtle Beach Trading Up 0.9%

Shares of Turtle Beach stock opened at $12.68 on Thursday. The firm has a market cap of $227.10 million, a price-to-earnings ratio of -60.38 and a beta of 2.31. Turtle Beach has a 52-week low of $9.84 and a 52-week high of $17.39. The company’s 50-day simple moving average is $12.63 and its 200-day simple moving average is $12.22. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly 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). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The company had revenue of $56.37 million during the quarter. As a group, equities research analysts anticipate that Turtle Beach will post 0.68 earnings per share for the current year.

Turtle Beach Company Profile

Turtle Beach Corporation is a gaming accessories company that develops, markets and distributes products for console, PC and mobile gaming. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, racing wheels and other gaming peripherals designed to support interactive entertainment and esports.

The company sells products under the Turtle Beach brand and, following its acquisition of Performance Designed Products, also offers products associated with brands such as PDP and its licensed gaming accessories portfolio.