Dimensional Fund Advisors LP Boosts Holdings in Turtle Beach Corporation $TBCH

Key Points

• Dimensional Fund Advisors increased its Turtle Beach stake by 26.1% in the first quarter, bringing its holdings to 437,882 shares worth approximately $4.44 million. Institutional investors collectively own 67.01% of the company.
• Turtle Beach shares opened at $12.87, near their 50-day average of $12.79 and below the $16.80 analyst consensus target. Ratings are mixed, with four Buys, one Hold and two Sells, resulting in an overall “Hold” consensus.
• Company insiders sold 154,516 shares valued at about $1.97 million over the past quarter, while insiders retain a 3.40% ownership stake.

Dimensional Fund Advisors LP raised its position in shares of Turtle Beach Corporation (NASDAQ:TBCH - Free Report) by 26.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 437,882 shares of the company's stock after acquiring an additional 90,677 shares during the period. Dimensional Fund Advisors LP owned approximately 2.21% of Turtle Beach worth $4,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP Paribas Financial Markets raised its position in Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company's stock worth $48,000 after purchasing an additional 1,392 shares during the period. Lazard Asset Management LLC bought a new stake in Turtle Beach in the second quarter worth about $76,000. New York State Common Retirement Fund purchased a new position in shares of Turtle Beach during the second quarter valued at approximately $81,000. JPMorgan Chase & Co. purchased a new position in shares of Turtle Beach during the second quarter valued at approximately $99,000. Finally, State of Wyoming bought a new position in shares of Turtle Beach during the second quarter valued at approximately $120,000. Hedge funds and other institutional investors own 67.01% of the company's stock.

Insider Buying and Selling at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the sale, the insider directly owned 1,775,441 shares in the company, valued at approximately $23,080,733. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katherine Lee Scherping sold 2,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the transaction, the director directly owned 22,254 shares in the company, valued at $294,865.50. The trade was a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 154,516 shares of company stock valued at $1,967,892 over the last quarter. Company insiders own 3.40% of the company's stock.

Turtle Beach Stock Down 0.1%

Shares of NASDAQ TBCH opened at $12.87 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.30 and a current ratio of 2.38. The firm has a market capitalization of $230.50 million, a price-to-earnings ratio of -61.29 and a beta of 2.29. The stock has a 50 day moving average price of $12.79 and a 200 day moving average price of $12.14. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39.

Analyst Ratings Changes

A number of brokerages recently issued reports on TBCH. Craig Hallum reissued a "buy" rating and set a $15.00 price target on shares of Turtle Beach in a research note on Friday, May 8th. Zacks Research downgraded Turtle Beach from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Turtle Beach in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $16.80.

Turtle Beach Company Profile

Turtle Beach Corporation NASDAQ: TBCH is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company's product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.

Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.

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