Turtle Beach (NASDAQ:TBCH) Director Sells $26,500.00 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the sale, the director directly owned 22,254 shares of the company’s stock, valued at $294,865.50. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Katherine Lee Scherping also recently made the following trade(s):

• On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The stock was sold at an average price of $13.10, for a total value of $89,669.50.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total value of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total value of $1,127.00.

Turtle Beach Stock Up 1.9%

Turtle Beach stock traded up $0.24 during mid-day trading on Friday, reaching $13.04. The stock had a trading volume of 314,114 shares, compared to its average volume of 298,282. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46. Turtle Beach Corporation has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The stock’s 50-day simple moving average is $11.29 and its 200-day simple moving average is $12.58. The firm has a market capitalization of $258.84 million, a PE ratio of 434.67, a price-to-earnings-growth ratio of 1.13 and a beta of 2.26.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. The firm had revenue of $42.17 million during the quarter. On average, sell-side analysts forecast that Turtle Beach Corporation will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. BNP Paribas Financial Markets lifted its holdings in shares of Turtle Beach by 87.2% in the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Turtle Beach by 44.9% in the third quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after purchasing an additional 1,693 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Turtle Beach in the second quarter valued at approximately $76,000. New York State Common Retirement Fund bought a new position in shares of Turtle Beach in the second quarter valued at approximately $81,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Turtle Beach in the second quarter valued at approximately $99,000. Institutional investors own 67.01% of the company’s stock.

Analysts Set New Price Targets

TBCH has been the subject of a number of research reports. Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Craig Hallum reissued a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research note on Friday, May 8th. Wedbush reduced their price objective 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. Weiss Ratings cut Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Finally, B. Riley Financial reduced their price objective on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Turtle Beach presently has a consensus rating of “Hold” and an average price target of $16.80.

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.