Analysts Set Turtle Beach Corporation (NASDAQ:TBCH) Price Target at $17.00

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have earned a consensus rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $17.00.

A number of equities analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial dropped their price target on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Finally, Wedbush cut their price target on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 16th.

Turtle Beach Trading Down 8.4%

Shares of NASDAQ:TBCH opened at $10.23 on Thursday. 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 company’s 50-day moving average price is $12.28 and its two-hundred day moving average price is $13.89. Turtle Beach has a one year low of $8.78 and a one year high of $17.39. The stock has a market capitalization of $200.51 million, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.72 and a beta of 2.22.

Insider Transactions at Turtle Beach

In other Turtle Beach news, 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 sale, the director directly owned 14,465 shares in the company, valued at $168,083.30. This represents a 57.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Turtle Beach

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. lifted 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 buying an additional 4,170 shares during the last quarter. Susquehanna Fundamental Investments LLC bought 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 during the fourth quarter worth about $2,626,000. AQR Capital Management LLC raised 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 acquiring an additional 8,327 shares in the last quarter. Finally, Windward Management LP bought a new position in shares of Turtle Beach in the fourth quarter worth about $24,073,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

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.