Turtle Beach (NASDAQ:TBCH) Earns Buy Rating from Analysts at B. Riley

Key Points

• B. Riley has upgraded Turtle Beach (NASDAQ:TBCH) to a "strong-buy" rating, anticipating positive stock performance.
• Other analysts have raised their price targets, with Wedbush setting it at $13.50 and Oppenheimer at $19.00, reflecting an average target price of $17.38.
• Insider trading showed major shareholder Dc Vga Llc selling a significant amount of shares, while Director William Z. Wyatt increased his holdings, indicating mixed signals among insiders.

B. Riley assumed coverage on shares of Turtle Beach (NASDAQ:TBCH - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a "buy" rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Wedbush reissued a "neutral" rating and set a $13.50 target price (up previously from $12.00) on shares of Turtle Beach in a report on Monday, August 4th. Oppenheimer reissued an "outperform" rating and set a $19.00 target price on shares of Turtle Beach in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $17.38.

Turtle Beach Stock Performance

TBCH stock traded up $0.28 during midday trading on Wednesday, reaching $15.67. 9,413 shares of the company's stock traded hands, compared to its average volume of 269,806. The company has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $13.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. Turtle Beach has a 52 week low of $8.78 and a 52 week high of $19.50. The firm has a market capitalization of $310.42 million, a PE ratio of 16.67, a price-to-earnings-growth ratio of 0.89 and a beta of 1.99.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.13. Turtle Beach had a net margin of 5.53% and a return on equity of 18.23%. The business had revenue of $56.78 million for the quarter, compared to analysts' expectations of $57.23 million. Turtle Beach has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Turtle Beach will post 1.17 EPS for the current year.

Insider Buying and Selling at Turtle Beach

In other news, Director William Z. Wyatt purchased 693,962 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $14.41 per share, with a total value of $9,999,992.42. Following the completion of the acquisition, the director owned 693,962 shares in the company, valued at $9,999,992.42. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Dc Vga Llc sold 1,388,888 shares of the company's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.41, for a total transaction of $20,013,876.08. Following the completion of the transaction, the insider owned 2,061,112 shares of the company's stock, valued at $29,700,623.92. This trade represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC purchased a new position in Turtle Beach in the second quarter worth $41,000. AlphaQuest LLC purchased a new stake in Turtle Beach during the second quarter valued at about $52,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Turtle Beach during the second quarter valued at about $55,000. CWM LLC purchased a new stake in Turtle Beach during the second quarter valued at about $65,000. Finally, Lazard Asset Management LLC bought a new position in shares of Turtle Beach during the second quarter valued at about $76,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Company Profile

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.