Weiss Ratings Reaffirms "Sell (D+)" Rating for Turtle Beach (NASDAQ:TBCH)

Key Points

• Weiss Ratings has reaffirmed a "Sell (D+)" rating for Turtle Beach (NASDAQ:TBCH), indicating a negative outlook for the stock.
• Analysts have expressed mixed opinions on Turtle Beach, with three analysts rating it as a "Buy," one as "Hold," and one as "Sell," while the consensus target price is $17.38.
• Turtle Beach's recent quarterly earnings exceeded expectations, with reported EPS of ($0.14), beating the consensus estimate by $0.13.

Turtle Beach (NASDAQ:TBCH - Get Free Report)'s stock had its "sell (d+)" rating restated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

TBCH has been the topic of several other reports. B. Riley started coverage on Turtle Beach in a research report on Thursday, October 2nd. They set a "buy" rating and a $21.00 target price on the stock. Oppenheimer reiterated an "outperform" rating and issued a $19.00 target price on shares of Turtle Beach in a research note on Friday, August 8th. Finally, Wedbush reiterated a "neutral" rating and issued a $13.50 target price (up previously from $12.00) on shares of Turtle Beach in a research note on Monday, August 4th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.38.

Turtle Beach Stock Up 1.0%

TBCH opened at $15.36 on Wednesday. The business's fifty day moving average is $15.34 and its two-hundred day moving average is $13.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. The company has a market cap of $304.28 million, a price-to-earnings ratio of 16.34, a PEG ratio of 0.87 and a beta of 1.99. Turtle Beach has a one year low of $8.78 and a one year high of $19.50.

Turtle Beach (NASDAQ:TBCH - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $57.23 million. Turtle Beach has set its FY 2025 guidance at EPS. Analysts anticipate that Turtle Beach will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Turtle Beach

Several large investors have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in Turtle Beach in the 2nd quarter valued at approximately $41,000. AlphaQuest LLC acquired a new position in shares of Turtle Beach during the 2nd quarter valued at $52,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Turtle Beach in the 2nd quarter worth $55,000. CWM LLC acquired a new position in shares of Turtle Beach in the 2nd quarter worth $65,000. Finally, Lazard Asset Management LLC acquired a new position in shares of Turtle Beach in the 2nd quarter worth $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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