Turtle Beach (NASDAQ:TBCH) Stock Price Down 1% - What's Next?

Key Points

• Turtle Beach Corporation's stock (NASDAQ:TBCH) fell by 1% to close at $15.29, with trading volume significantly increasing by 78% compared to its average daily volume.
• Analysts have a mixed outlook on Turtle Beach, with Wedbush setting a neutral rating and target price of $13.50, while Oppenheimer has an outperform rating with a target of $19.00.
• Insider trading activity included a large purchase by Director William Z. Wyatt of 693,962 shares for approximately $10 million, while a major shareholder sold 1,388,888 shares, indicating varied confidence among insiders.

Shares of Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) were down 1% during trading on Friday . The stock traded as low as $15.22 and last traded at $15.29. Approximately 358,547 shares changed hands during mid-day trading, an increase of 78% from the average daily volume of 201,350 shares. The stock had previously closed at $15.45.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on TBCH shares. Wedbush reaffirmed a "neutral" rating and issued a $13.50 target price (up from $12.00) on shares of Turtle Beach in a research report on Monday, August 4th. Oppenheimer reaffirmed an "outperform" rating and issued a $19.00 target price on shares of Turtle Beach in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Turtle Beach presently has an average rating of "Moderate Buy" and an average target price of $16.17.

Turtle Beach Stock Down 1.0%

The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $14.89 and a 200-day simple moving average of $13.40. The stock has a market capitalization of $302.89 million, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 0.88 and a beta of 1.99.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.13. Turtle Beach had a return on equity of 18.23% and a net margin of 5.53%.The firm had revenue of $56.78 million during the quarter, compared to analyst estimates of $57.23 million. Turtle Beach has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Turtle Beach Corporation will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Turtle Beach

In related news, Director William Z. Wyatt acquired 693,962 shares of the company's stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $14.41 per share, for a total transaction of $9,999,992.42. Following the completion of the purchase, the director directly owned 693,962 shares of the company's stock, valued at $9,999,992.42. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Dc Vga Llc sold 1,388,888 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $14.41, for a total value of $20,013,876.08. Following the completion of the sale, the insider owned 2,061,112 shares of the company's stock, valued at approximately $29,700,623.92. This trade represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.30% of the company's stock.

Institutional Trading of Turtle Beach

Hedge funds and other institutional investors have recently made changes to their positions in the business. Signaturefd LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at $41,000. AlphaQuest LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Turtle Beach in the second quarter valued at $55,000. CWM LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at $65,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at $76,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

About Turtle Beach

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.

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