Turtle Beach (NASDAQ:TBCH) Director Sells $89,669.50 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 6,845 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.10, for a total transaction of $89,669.50. Following the transaction, the director directly owned 24,254 shares of the company’s stock, valued at approximately $317,727.40. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $13.25, for a total transaction of $26,500.00.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The shares were sold at an average price of $11.62, for a total transaction of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The shares were sold at an average price of $11.50, for a total transaction of $1,127.00.

Turtle Beach Stock Performance

Shares of TBCH traded up $0.24 during midday trading on Friday, hitting $13.04. 314,114 shares of the stock traded hands, compared to its average volume of 298,282. Turtle Beach Corporation has a 1-year low of $9.84 and a 1-year high of $17.39. The firm has a market capitalization of $258.84 million, a PE ratio of 434.67, a price-to-earnings-growth ratio of 1.13 and a beta of 2.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46. The business’s 50 day moving average price is $11.29 and its two-hundred day moving average price is $12.58.

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

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds and other institutional investors have recently modified their holdings of TBCH. Envestnet Asset Management Inc. bought a new stake in shares of Turtle Beach during the second quarter valued at about $154,000. Geode Capital Management LLC bought a new stake in shares of Turtle Beach during the second quarter valued at about $5,438,000. JPMorgan Chase & Co. bought a new stake in shares of Turtle Beach during the second quarter valued at about $99,000. Franklin Resources Inc. bought a new stake in shares of Turtle Beach during the second quarter valued at about $241,000. Finally, Rhumbline Advisers bought a new stake in Turtle Beach in the second quarter worth about $568,000. 67.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TBCH. Craig Hallum reissued a “buy” rating and set a $15.00 price target on shares of Turtle Beach in a report on Friday, May 8th. B. Riley Financial cut their price objective 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. Wedbush cut their price objective on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Weiss Ratings cut shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.80.

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.