Turtle Beach (NASDAQ:TBCH) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Turtle Beach (NASDAQ:TBCH) from a buy rating to a hold rating in a report published on Sunday morning.

TBCH has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research note on Friday, May 8th. Finally, Zacks Research cut shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.80.

Turtle Beach Stock Performance

Shares of Turtle Beach stock opened at $12.85 on Friday. Turtle Beach has a one year low of $9.84 and a one year high of $17.39. The firm has a market capitalization of $230.14 million, a price-to-earnings ratio of -61.19 and a beta of 2.29. The business has a 50-day simple moving average of $12.71 and a 200 day simple moving average of $12.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30.

Turtle Beach (NASDAQ:TBCH) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The firm had revenue of $56.37 million during the quarter. On average, research analysts anticipate that Turtle Beach will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Dc Vga Llc sold 140,000 shares of Turtle Beach stock in a transaction that occurred 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 transaction, the insider owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. The trade was a 6.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Katherine Lee Scherping sold 2,000 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $13.25, for a total value of $26,500.00. Following the sale, the director owned 22,254 shares of the company’s stock, valued at $294,865.50. This trade represents a 8.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 147,671 shares of company stock worth $1,878,223 in the last 90 days. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Turtle Beach

Several institutional investors have recently made changes to their positions in TBCH. Deutsche Bank AG lifted its position in shares of Turtle Beach by 8.4% during the fourth quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock valued at $163,000 after purchasing an additional 898 shares in the last quarter. BNP Paribas Financial Markets grew its position in Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after purchasing an additional 1,392 shares in the last quarter. California State Teachers Retirement System grew its position in Turtle Beach by 200.4% in the 2nd quarter. California State Teachers Retirement System now owns 2,565 shares of the company’s stock worth $32,000 after purchasing an additional 1,711 shares in the last quarter. State of Wisconsin Investment Board increased its stake in Turtle Beach by 9.4% in the 4th quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock valued at $349,000 after buying an additional 2,132 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Turtle Beach by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after buying an additional 2,335 shares in the last quarter. 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.