Turtle Beach Corporation (NASDAQ:TBCH) Stock Now Rated "Hold" by Wall Street Brokerages

Key Points

• Analysts rate Turtle Beach “Hold” on average: Of seven analysts, four recommend buying, two hold, and one recommends selling; the average 12-month price target is $16.40.
• The company reported quarterly EPS of $0.24, below the $0.26 consensus estimate, on revenue of $84.7 million. Analysts expect full-year EPS of $0.69 on average.
• A major shareholder sold 5,671 shares at an average price of $13, while institutional investors own 67.01% of the stock.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) have been given an average rating of "Hold" by the seven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $16.40.

TBCH has been the topic of a number of recent research reports. Roth Capital restated a "buy" rating and set a $18.00 price target on shares of Turtle Beach in a report on Thursday, October 15th. 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 report on Monday, October 19th. Finally, Zacks Research raised shares of Turtle Beach from a "strong sell" rating to a "hold" rating in a research report on Tuesday, October 6th.

Insider Buying and Selling at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 5,671 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00. Following the completion of the sale, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Institutional Trading of Turtle Beach

Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Turtle Beach by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company's stock valued at $4,440,000 after acquiring an additional 90,677 shares during the period. Pinnacle Holdings LLC acquired a new stake in Turtle Beach during the second quarter worth about $798,000. Bank of New York Mellon Corp bought a new position in Turtle Beach during the second quarter valued at about $741,000. Globeflex Capital L P bought a new position in Turtle Beach during the second quarter valued at about $596,000. Finally, Pullen Investment Management LLC raised its holdings in Turtle Beach by 20.6% in the 3rd quarter. Pullen Investment Management LLC now owns 193,581 shares of the company's stock valued at $2,472,000 after acquiring an additional 33,013 shares in the last quarter. 67.01% of the stock is owned by institutional investors.

Turtle Beach Stock Down 1.8%

Shares of Turtle Beach stock opened at $16.65 on Friday. The firm has a market cap of $298.20 million, a price-to-earnings ratio of -79.29 and a beta of 2.36. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach has a 52-week low of $9.84 and a 52-week high of $17.10. The stock has a 50-day simple moving average of $13.93 and a 200-day simple moving average of $12.63.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last announced its quarterly 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). The firm had revenue of $84.70 million during the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. On average, equities research analysts expect that Turtle Beach will post 0.69 earnings per share for the current fiscal year.

Turtle Beach Company Profile

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.

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