Turtle Beach (NASDAQ:TBCH) Upgraded at Zacks Research

Zacks Research upgraded shares of Turtle Beach (NASDAQ:TBCH) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks reports.

Other equities analysts have also issued reports about the company. Wall Street Zen upgraded Turtle Beach from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.80.

Turtle Beach Stock Performance

Shares of TBCH opened at $12.73 on Tuesday. The company’s fifty day moving average is $12.74 and its 200-day moving average is $12.25. Turtle Beach has a 12 month low of $9.84 and a 12 month high of $17.39. The firm has a market cap of $227.99 million, a price-to-earnings ratio of -60.62 and a beta of 2.36. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The business had revenue of $56.37 million for the quarter. Equities analysts expect that Turtle Beach will post 0.68 EPS for the current fiscal year.

Insider Activity at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 140,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.70, for a total value of $1,778,000.00. Following the completion of the sale, the insider directly owned 1,921,112 shares in the company, valued at approximately $24,398,122.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Turtle Beach

Several large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in 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 acquiring an additional 90,677 shares during the period. Bank of New York Mellon Corp bought a new stake in Turtle Beach during the second quarter valued at about $741,000. Globeflex Capital L P bought a new stake in Turtle Beach during the second quarter valued at about $596,000. Pinnacle Holdings LLC bought a new stake in Turtle Beach during the second quarter valued at about $798,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Turtle Beach in the second quarter valued at about $141,000. 67.01% of the stock is owned by institutional investors.

About Turtle Beach

Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.

The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.

Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.