Insider Selling: Turtle Beach (NASDAQ:TBCH) Major Shareholder Sells $73,723.00 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 5,671 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00. Following the transaction, the insider directly owned 1,775,441 shares of the company’s stock, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, August 10th, Dc Vga Llc sold 140,000 shares of Turtle Beach stock. The shares were sold at an average price of $12.70, for a total transaction of $1,778,000.00.

Turtle Beach Price Performance

Shares of TBCH opened at $12.75 on Friday. The business’s 50-day moving average is $12.80 and its two-hundred day moving average is $12.14. The company has a market capitalization of $228.35 million, a P/E ratio of -60.71 and a beta of 2.29. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.30 and a current ratio of 2.38. Turtle Beach Corporation has a fifty-two week low of $9.84 and a fifty-two week high of $17.39.

Analyst Upgrades and Downgrades

TBCH has been the topic of several analyst reports. Zacks Research lowered Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Wall Street Zen raised Turtle Beach from a “hold” rating to a “buy” rating in a report on Saturday. Craig Hallum restated a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Four 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’s stock. According to MarketBeat, Turtle Beach has a consensus rating of “Hold” and a consensus target price of $16.80.

Institutional Investors Weigh In On Turtle Beach

Several hedge funds have recently modified their holdings of the company. Pinnacle Holdings LLC purchased a new position in shares of Turtle Beach in the 2nd quarter valued at about $798,000. Globeflex Capital L P purchased a new position in Turtle Beach during the second quarter worth approximately $596,000. Bank of New York Mellon Corp acquired a new stake in Turtle Beach in the second quarter valued at approximately $741,000. Dimensional Fund Advisors LP grew its holdings 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 purchasing an additional 90,677 shares during the period. Finally, North Star Investment Management Corp. increased its position in shares of Turtle Beach by 20.4% in the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock valued at $2,100,000 after buying an additional 35,144 shares in the last quarter. 67.01% of the stock is owned by hedge funds and other 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.