Turtle Beach (NASDAQ:TBCH) Stock Sees Unusually High Call Option Buying

Turtle Beach Corporation (NASDAQ:TBCH) was the target of unusually large options trading activity on Wednesday. Investors acquired 2,600 call options on the stock. This represents an increase of 86% compared to the typical daily volume of 1,396 call options.

Turtle Beach Trading Up 0.8%

NASDAQ:TBCH opened at $16.73 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.93 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average is $14.23 and its two-hundred day moving average is $12.69. Turtle Beach has a 52 week low of $9.84 and a 52 week high of $17.49. The company has a market cap of $300.14 million, a PE ratio of -334.60 and a beta of 2.36.

Turtle Beach (NASDAQ:TBCH) last issued its earnings results on Thursday, November 5th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.02). Turtle Beach had a positive return on equity of 0.58% and a negative net margin of 0.17%. The firm had revenue of $84.70 million during the quarter. On average, analysts predict that Turtle Beach will post 0.78 EPS for the current year.

Institutional Trading of Turtle Beach

A number of institutional investors and hedge funds have recently made changes to their positions in TBCH. Dimensional Fund Advisors LP lifted 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 worth $4,440,000 after purchasing an additional 90,677 shares during the last quarter. Pinnacle Holdings LLC bought a new position in Turtle Beach during the 2nd quarter worth $798,000. Bank of New York Mellon Corp acquired a new stake in Turtle Beach in the second quarter worth $741,000. Globeflex Capital L P acquired a new stake in Turtle Beach in the second quarter worth $596,000. Finally, Pullen Investment Management LLC increased its position in Turtle Beach by 20.6% in the third quarter. Pullen Investment Management LLC now owns 193,581 shares of the company’s stock worth $2,472,000 after buying an additional 33,013 shares during the period. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TBCH has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Turtle Beach from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings raised shares of Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 19th. Roth Capital reissued a “buy” rating and set a $18.00 price target on shares of Turtle Beach in a research report on Thursday, October 15th. Zacks Research upgraded shares of Turtle Beach from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 5th. Finally, B. Riley Financial cut shares of Turtle Beach from a “buy” rating to a “hold” rating and set a $17.00 price objective for the company. in a research report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.80.

About Turtle Beach

Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications. The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.