Turtle Beach (NASDAQ:TBCH) Major Shareholder Sells $73,723.00 in Stock

Key Points

• Major shareholder Dc Vga LLC sold 5,671 Turtle Beach shares for $73,723 at an average price of $13.00, following a separate sale of 140,000 shares for $1.78 million earlier in the week. The latest transaction reduced its ownership by 0.32% to 1.78 million shares.
• Turtle Beach shares closed at $12.87, near their 50-day moving average of $12.78 and below the consensus analyst price target of $16.80. Analysts’ overall rating is Hold, with ratings ranging from Buy to Sell.
• Institutional investors own approximately 67.01% of Turtle Beach, with several firms recently increasing their positions or initiating new stakes.

Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) major shareholder Dc Vga Llc sold 5,671 shares of the firm's stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the sale, the insider owned 1,775,441 shares of the company's stock, valued at approximately $23,080,733. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Monday, August 10th, Dc Vga Llc sold 140,000 shares of Turtle Beach stock. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00.

Turtle Beach Stock Performance

Shares of NASDAQ:TBCH traded down $0.01 during trading on Wednesday, reaching $12.87. 218,402 shares of the stock traded hands, compared to its average volume of 324,810. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $12.78 and a two-hundred day moving average of $12.15. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TBCH. Weiss Ratings reissued a "sell (d)" rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research cut Turtle Beach from a "hold" rating to a "strong sell" rating in a research report on Friday, August 7th. Finally, Craig Hallum reaffirmed a "buy" rating and set a $15.00 price objective on shares of Turtle Beach in a research report on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $16.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TBCH. Deutsche Bank AG lifted its holdings in shares of Turtle Beach by 8.4% during the 4th quarter. Deutsche Bank AG now owns 11,592 shares of the company's stock valued at $163,000 after buying an additional 898 shares during the period. BNP Paribas Financial Markets increased its position in Turtle Beach by 87.2% during the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company's stock valued at $48,000 after acquiring an additional 1,392 shares during the last quarter. State of Wyoming bought a new position in Turtle Beach in the second quarter valued at about $120,000. Lazard Asset Management LLC bought a new position in Turtle Beach in the second quarter valued at about $76,000. Finally, New York State Common Retirement Fund purchased a new position in Turtle Beach in the second quarter worth about $81,000. 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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