William Z. Wyatt Acquires 693,962 Shares of Turtle Beach (NASDAQ:TBCH) Stock

Key Points

• William Z. Wyatt, a director of Turtle Beach Corporation, purchased 693,962 shares at an average price of $14.41, totaling approximately $10 million, significantly increasing his ownership stake.
• Turtle Beach's stock rose 1.7% to $15.87, and the company has a market capitalization of $314.38 million with a current ratio of 1.83.
• The company reported a net margin of 5.53% for the last quarter, with earnings per share exceeding estimates, but revenue slightly underperformed analyst projections.

Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) Director William Z. Wyatt purchased 693,962 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were acquired 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 approximately $9,999,992.42. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Turtle Beach Stock Up 4.3%

Shares of TBCH traded up $0.66 during trading hours on Friday, hitting $16.12. The stock had a trading volume of 430,332 shares, compared to its average volume of 237,129. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $14.31 and a 200-day simple moving average of $13.65. The firm has a market capitalization of $319.34 million, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.96. Turtle Beach Corporation has a 1-year low of $8.78 and a 1-year high of $19.50.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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. Sell-side analysts predict that Turtle Beach Corporation will post 1.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TBCH. Wedbush reaffirmed a "neutral" rating and issued a $13.50 price target (up previously from $12.00) on shares of Turtle Beach in a research report on Monday, August 4th. Craig Hallum decreased their price target on shares of Turtle Beach from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $19.00 price objective on shares of Turtle Beach in a research note on Friday, August 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.17.

Institutional Trading of Turtle Beach

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

About Turtle Beach

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.