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

Key Points

• Analysts assign Turtle Beach an average rating of "Moderate Buy" from seven firms (four buys, three holds) with an average 1-year price target of $17.00.
• Shares opened at $11.81 with a market cap of $231.5M, a P/E of 15.14, and a 52-week range of $8.78–$17.39; the 50-day and 200-day SMAs are $11.64 and $13.37, respectively.
• Director Katherine Lee Scherping sold 19,902 shares (a ~57.9% reduction in her stake); insiders own 3.3% of the stock while institutional investors hold 67.01%.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) have been given an average rating of "Moderate Buy" by the seven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $17.00.

TBCH has been the topic of a number of analyst reports. Oppenheimer reissued an "outperform" rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Zacks Research raised Turtle Beach from a "strong sell" rating to a "hold" rating in a research report on Wednesday, February 4th. Wedbush reduced their price target on Turtle Beach from $14.00 to $11.00 and set a "neutral" rating on the stock in a research report on Monday, March 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Turtle Beach in a research report on Friday, March 27th. Finally, B. Riley Financial reduced their price target on Turtle Beach from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Tuesday, March 10th.

Turtle Beach Stock Performance

Shares of NASDAQ:TBCH opened at $11.81 on Monday. The company has a market capitalization of $231.48 million, a P/E ratio of 15.14, a P/E/G ratio of 0.83 and a beta of 2.30. Turtle Beach has a 1 year low of $8.78 and a 1 year high of $17.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.98 and a quick ratio of 1.19. The business's 50 day simple moving average is $11.64 and its 200 day simple moving average is $13.37.

Insider Transactions at Turtle Beach

In other Turtle Beach news, Director Katherine Lee Scherping sold 19,902 shares of the firm's stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $11.62, for a total value of $231,261.24. Following the sale, the director owned 14,465 shares of the company's stock, valued at approximately $168,083.30. This trade represents a 57.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Turtle Beach

Large investors have recently modified their holdings of the business. LSV Asset Management acquired a new stake in shares of Turtle Beach in the 3rd quarter valued at $2,304,000. Inspire Investing LLC acquired a new stake in shares of Turtle Beach in the 3rd quarter valued at $1,096,000. Pullen Investment Management LLC boosted its holdings in shares of Turtle Beach by 94.3% in the 4th quarter. Pullen Investment Management LLC now owns 143,337 shares of the company's stock valued at $2,011,000 after purchasing an additional 69,558 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company's stock valued at $87,000 after purchasing an additional 1,693 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in shares of Turtle Beach in the 4th quarter valued at $200,000. Institutional investors and hedge funds 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.

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.