Dc Vga Llc Sells 140,000 Shares of Turtle Beach (NASDAQ:TBCH) Stock

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 140,000 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $12.70, for a total value of $1,778,000.00. Following the completion of the transaction, the insider directly owned 1,921,112 shares in the company, valued at approximately $24,398,122.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Dc Vga Llc also recently made the following trade(s):

• On Wednesday, August 12th, Dc Vga Llc sold 5,671 shares of Turtle Beach stock. The shares were sold at an average price of $13.00, for a total value of $73,723.00.

Turtle Beach Price Performance

Shares of TBCH stock opened at $12.83 on Friday. Turtle Beach Corporation has a twelve month low of $9.84 and a twelve month high of $17.39. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The stock has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $12.14. The stock has a market capitalization of $229.79 million, a price-to-earnings ratio of -61.10 and a beta of 2.29.

Hedge Funds Weigh In On Turtle Beach

A number of large investors have recently added to or reduced their stakes in TBCH. Windward Management LP bought a new stake in shares of Turtle Beach in the 4th quarter valued at about $24,073,000. Goldman Sachs Group Inc. lifted its position in Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after acquiring an additional 457,125 shares during the last quarter. Bank of America Corp DE purchased a new stake in Turtle Beach during the second quarter valued at approximately $6,930,000. Dimensional Fund Advisors LP boosted its stake in Turtle Beach by 26.1% in the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after acquiring an additional 90,677 shares in the last quarter. Finally, Geode Capital Management LLC acquired a new stake in Turtle Beach in the second quarter valued at approximately $5,438,000. 67.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.