Turtle Beach (NASDAQ:TBCH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Turtle Beach (NASDAQ:TBCH) from a hold rating to a buy rating in a research note published on Saturday.

Several other research analysts also recently issued reports on TBCH. Zacks Research downgraded Turtle Beach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Finally, Craig Hallum reissued a “buy” rating and set a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Turtle Beach currently has an average rating of “Hold” and an average price target of $16.80.

Turtle Beach Stock Performance

Shares of TBCH opened at $12.24 on Friday. 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 market cap of $219.22 million, a P/E ratio of -58.29 and a beta of 2.29. The company has a 50-day moving average of $12.78 and a two-hundred day moving average of $12.13. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39.

Insider Activity

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 1,921,112 shares of the company’s stock, 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 accessible through this hyperlink. Also, Director Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.10, for a total value of $89,669.50. Following the completion of the sale, the director owned 24,254 shares of the company’s stock, valued at $317,727.40. This trade represents a 22.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 154,516 shares of company stock worth $1,967,892 over the last quarter. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Turtle Beach

Several hedge funds have recently modified their holdings of the stock. Pinnacle Holdings LLC purchased a new stake in Turtle Beach in the second quarter valued at approximately $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 purchased a new position in Turtle Beach during the second quarter worth approximately $741,000. Dimensional Fund Advisors LP boosted its holdings in shares of Turtle Beach by 26.1% in the 1st 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 last quarter. Finally, North Star Investment Management Corp. boosted its holdings in shares of Turtle Beach by 20.4% in the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock valued at $2,100,000 after purchasing an additional 35,144 shares during the last quarter. 67.01% of the stock is owned by institutional investors and hedge funds.

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.