Turtle Beach Corporation (NASDAQ:TBCH) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Turtle Beach has a consensus “Hold” rating from seven analysts: four buys, one hold and two sells. The average 12-month price target is $16.80, compared with the stock’s opening price of $12.58.
• The company reported quarterly adjusted earnings of negative $0.38 per share, missing analysts’ estimate of negative $0.30, while revenue reached $56.37 million. Analysts expect full-year earnings of $0.68 per share.
• Institutional investors own 67.01% of Turtle Beach, with several funds recently increasing or initiating positions; however, a major shareholder sold 5,671 shares at an average price of $13.00.

Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) has been given a consensus rating of "Hold" by the seven research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.80.

TBCH has been the topic of a number of research reports. Wall Street Zen downgraded Turtle Beach from a "buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Zacks Research cut Turtle Beach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Turtle Beach in a report on Friday, August 7th.

Turtle Beach Stock Up 0.1%

Turtle Beach stock opened at $12.58 on Thursday. The company has a market capitalization of $225.31 million, a PE ratio of -59.90 and a beta of 2.31. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39. The firm's fifty day moving average is $12.65 and its 200 day moving average is $12.21. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The company had revenue of $56.37 million during the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. As a group, sell-side analysts predict that Turtle Beach will post 0.68 EPS for the current fiscal year.

Insider Transactions at Turtle Beach

In related news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the sale, the insider owned 1,775,441 shares of the company's stock, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 3.40% of the company's stock.

Institutional Investors Weigh In On Turtle Beach

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 90,677 shares during the last quarter. Pinnacle Holdings LLC purchased a new position in shares of Turtle Beach in the 2nd quarter worth approximately $798,000. Bank of New York Mellon Corp purchased a new position in shares of Turtle Beach in the 2nd quarter worth approximately $741,000. Globeflex Capital L P bought a new position in shares of Turtle Beach in the second quarter valued at approximately $596,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Turtle Beach by 20.4% in the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company's stock valued at $2,100,000 after acquiring an additional 35,144 shares in the last quarter. 67.01% of the stock is owned by institutional investors.

About Turtle Beach

Turtle Beach Corporation is a gaming accessories company that develops, markets and distributes products for console, PC and mobile gaming. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, racing wheels and other gaming peripherals designed to support interactive entertainment and esports.

The company sells products under the Turtle Beach brand and, following its acquisition of Performance Designed Products, also offers products associated with brands such as PDP and its licensed gaming accessories portfolio.

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