Turtle Beach (NASDAQ:TBCH) Major Shareholder Dc Vga Llc Sells 5,671 Shares

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 5,671 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the transaction, the insider directly owned 1,775,441 shares in the company, valued at approximately $23,080,733. This trade represents a 0.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock 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 value of $1,778,000.00.

Turtle Beach Trading Down 0.1%

NASDAQ:TBCH opened at $12.87 on Thursday. Turtle Beach Corporation has a 1-year low of $9.84 and a 1-year high of $17.39. The business’s 50-day moving average price is $12.79 and its two-hundred day moving average price is $12.14. 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 firm has a market capitalization of $230.50 million, a price-to-earnings ratio of -61.29 and a beta of 2.29.

Analyst Upgrades and Downgrades

Several brokerages have commented on TBCH. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Finally, Zacks Research downgraded Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.80.

Institutional Investors Weigh In On Turtle Beach

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Deutsche Bank AG grew its position in Turtle Beach by 8.4% in 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 boosted its stake in shares of Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after buying an additional 1,392 shares during the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Turtle Beach by 9.4% during the 4th quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after buying an additional 2,132 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Turtle Beach by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock valued at $314,000 after acquiring an additional 2,335 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Turtle Beach by 21.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 13,536 shares of the company’s stock valued at $215,000 after acquiring an additional 2,408 shares in the last quarter. Institutional investors and hedge funds own 67.01% of the company’s stock.

About Turtle Beach

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.