Turtle Beach (NASDAQ:TBCH) Major Shareholder Sells 140,000 Shares

Key Points

• Major shareholder Dc Vga LLC sold 140,000 Turtle Beach shares at an average price of $12.70, generating $1.78 million and reducing its stake by 6.79% to 1.92 million shares. The shareholder also sold 5,671 additional shares at $13.00 two days later.
• Turtle Beach shares slipped 0.1% to $12.87, trading within a 52-week range of $9.84 to $17.39. Institutional investors own approximately 67.01% of the company.
• Analyst sentiment is mixed: four analysts rate the stock Buy, one rates it Hold, and two rate it Sell. The consensus rating is Hold, with an average price target of $16.80.

Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) major shareholder Dc Vga Llc sold 140,000 shares of the company's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the completion of the sale, the insider owned 1,921,112 shares of the company's stock, valued at approximately $24,398,122.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Dc Vga Llc also recently made the following trade(s):

• On Wednesday, August 12th, Dc Vga Llc sold 5,671 shares of Turtle Beach stock. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00.

Turtle Beach Stock Down 0.1%

Turtle Beach stock traded down $0.01 during midday trading on Wednesday, hitting $12.87. 218,402 shares of the stock were exchanged, compared to its average volume of 324,810. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39. The business's 50-day moving average price is $12.78 and its 200-day moving average price is $12.15. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. 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 downgraded Turtle Beach from a "hold" rating to a "strong sell" rating in a research note on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of Turtle Beach in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Turtle Beach presently has an average rating of "Hold" and an average price target of $16.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Envestnet Asset Management Inc. purchased a new stake in Turtle Beach in the 2nd quarter worth about $154,000. Geode Capital Management LLC bought a new stake in shares of Turtle Beach in the second quarter valued at approximately $5,438,000. JPMorgan Chase & Co. purchased a new stake in shares of Turtle Beach during the 2nd quarter valued at approximately $99,000. Franklin Resources Inc. purchased a new stake in shares of Turtle Beach during the 2nd quarter valued at approximately $241,000. Finally, Rhumbline Advisers bought a new position in Turtle Beach in the 2nd quarter worth approximately $568,000. 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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