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

Key Points

• Analysts give Turtle Beach an average “Hold” rating: Of seven analysts, four recommend buying, two recommend holding, and one recommends selling. The average 12-month price target is $16.80, above the reported $13.01 share price.
• Turtle Beach reported a quarterly loss of $0.78 per share, missing the $0.43 loss analysts expected, while revenue totaled $42.17 million. The stock has traded between $9.84 and $17.39 over the past year.
• Institutional investors own 67.01% of the company, with several funds increasing their positions recently. Meanwhile, director Katherine Lee Scherping sold 2,000 shares at an average price of $13.25.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) have been assigned an average recommendation of "Hold" from the seven analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $16.80.

Several research firms have issued reports on TBCH. Weiss Ratings lowered shares of Turtle Beach from a "hold (c-)" rating to a "sell (d)" rating in a research report on Monday, May 11th. Craig Hallum reissued a "buy" rating and issued a $15.00 price objective on shares of Turtle Beach in a research report on Friday, May 8th.

Insider Transactions at Turtle Beach

In related news, Director Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $13.25, for a total transaction of $26,500.00. Following the completion of the transaction, the director owned 22,254 shares in the company, valued at approximately $294,865.50. This trade represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.40% of the company's stock.

Institutional Trading of Turtle Beach

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company's stock worth $4,440,000 after acquiring an additional 90,677 shares during the period. North Star Investment Management Corp. raised its stake in Turtle Beach by 20.4% in the 1st 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 during the period. Pullen Investment Management LLC raised its stake in Turtle Beach by 10.8% in the 1st quarter. Pullen Investment Management LLC now owns 158,866 shares of the company's stock valued at $1,611,000 after acquiring an additional 15,529 shares during the period. Invesco Ltd. raised its stake in Turtle Beach by 9.9% in the 4th quarter. Invesco Ltd. now owns 46,088 shares of the company's stock valued at $647,000 after acquiring an additional 4,170 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Turtle Beach during the 4th quarter valued at $149,000. 67.01% of the stock is owned by institutional investors and hedge funds.

Turtle Beach Stock Up 5.3%

TBCH stock opened at $13.01 on Wednesday. The company has a market cap of $258.25 million, a price-to-earnings ratio of 433.67 and a beta of 2.28. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The business has a 50 day moving average price of $12.69 and a two-hundred day moving average price of $12.19. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.35). The company had revenue of $42.17 million for the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. Analysts anticipate that Turtle Beach will post 0.87 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.