Turtle Beach Corporation (TBCH) - What Are Analysts Thinking About This Stock?

Key Points

• Analyst sentiment is mixed: Seven analysts assign Turtle Beach an average “Hold” rating, with four buys, two holds and one sell. The average 12-month price target is $16.80 versus the reported share price of $13.24.
• Recent financial results fell short of expectations: Turtle Beach reported a quarterly loss of $0.38 per share, missing the $0.30 loss consensus, on revenue of $56.37 million. Analysts expect full-year earnings of $0.68 per share.
• Ownership activity has been notable: A major shareholder sold 140,000 shares, while institutional investors—including Bank of New York Mellon and several hedge funds—initiated positions. Institutions collectively own 67.01% of the company.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) have been assigned an average recommendation of "Hold" from the seven ratings firms that are covering the company, Marketbeat reports. One investment 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 twelve-month price target among analysts that have issued a report on the stock in the last year is $16.80.

TBCH has been the subject of several research analyst reports. 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 reiterated a "sell (d)" rating on shares of Turtle Beach in a research note on Friday, August 7th. 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.

Turtle Beach Price Performance

TBCH stock opened at $13.24 on Monday. The business has a 50 day moving average price of $12.76 and a 200 day moving average price of $12.26. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95. The stock has a market cap of $237.13 million, a price-to-earnings ratio of -63.05 and a beta of 2.36. Turtle Beach has a fifty-two week low of $9.84 and a fifty-two week high of $17.39.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS 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%. Equities research analysts anticipate that Turtle Beach will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the transaction, the insider owned 1,921,112 shares of the company's stock, valued at approximately $24,398,122.40. This trade represents a 6.79% decrease in their ownership of the stock. The sale was disclosed in a document filed 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new position in Turtle Beach during the 2nd quarter worth approximately $141,000. Hennessy Advisors Inc. purchased a new stake in Turtle Beach in the second quarter valued at approximately $150,000. AXQ Capital LP purchased a new stake in Turtle Beach in the second quarter valued at approximately $211,000. Globeflex Capital L P purchased a new stake in Turtle Beach in the second quarter valued at approximately $596,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Turtle Beach in the second quarter valued at approximately $741,000. Institutional investors and hedge funds own 67.01% of the company's stock.

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.

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