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

Key Points

• Analysts give Turtle Beach a consensus “Hold” rating: Two recommend selling, one holds, and four recommend buying. The average 12-month price target is $16.80, above the stock’s reported $12.66 opening price.
• Turtle Beach reported a quarterly loss of $0.38 per share, missing the consensus estimate of a $0.30 loss, on revenue of $56.37 million. The stock has traded between $9.84 and $17.39 over the past year.
• Insiders sold shares worth nearly $2.0 million during the last quarter, while institutional investors own 67.01% of the company; major investors including Goldman Sachs and Franklin Resources increased their positions.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) have been assigned a consensus rating of "Hold" from the seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on 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 analysts have weighed in on TBCH shares. Craig Hallum reaffirmed a "buy" rating and set a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Zacks Research cut shares of Turtle Beach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Wall Street Zen cut shares of Turtle Beach from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Turtle Beach in a report on Friday, August 7th.

Turtle Beach Stock Performance

Shares of TBCH stock opened at $12.66 on Friday. The company's fifty day simple moving average is $12.72 and its 200-day simple moving average is $12.14. 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 firm has a market cap of $226.74 million, a PE ratio of -60.29 and a beta of 2.29. Turtle Beach has a 12 month low of $9.84 and a 12 month high of $17.39.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The company had revenue of $56.37 million for the quarter. Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. Equities research analysts expect that Turtle Beach will post 0.68 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach 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 transaction, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Katherine Lee Scherping sold 2,000 shares of the business's stock in a transaction that occurred 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 ownership of the stock. 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. 3.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Turtle Beach

A number of institutional investors have recently made changes to their positions in TBCH. Windward Management LP bought a new position in shares of Turtle Beach during the fourth quarter worth approximately $24,073,000. Bank of America Corp DE acquired a new position in shares of Turtle Beach in the second quarter valued at about $6,930,000. Goldman Sachs Group Inc. increased its position in Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company's stock worth $8,369,000 after acquiring an additional 457,125 shares during the period. Geode Capital Management LLC bought a new position in Turtle Beach during the second quarter worth about $5,438,000. Finally, Franklin Resources Inc. raised its stake in Turtle Beach by 1,338.6% in the 4th quarter. Franklin Resources Inc. now owns 283,780 shares of the company's stock worth $3,981,000 after purchasing an additional 264,054 shares in the last quarter. Institutional investors own 67.01% of the company's stock.

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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