Turtle Beach (NASDAQ:TBCH) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Turtle Beach (NASDAQ:TBCH) from a hold rating to a buy rating in a report released on Monday morning,Wall Street Zen reports.

A number of other research analysts have also commented on TBCH. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Craig Hallum restated a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. 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, Turtle Beach presently has a consensus rating of “Hold” and a consensus price target of $16.80.

Turtle Beach Stock Performance

Shares of TBCH opened at $12.81 on Monday. The company’s 50 day simple moving average is $12.66 and its 200-day simple moving average is $12.17. The firm has a market cap of $229.43 million, a PE ratio of -61.00 and a beta of 2.29. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The business had revenue of $56.37 million during the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. As a group, equities analysts predict that Turtle Beach will post 0.68 EPS for the current year.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.70, for a total value of $1,778,000.00. Following the transaction, the insider directly owned 1,921,112 shares of the company’s stock, valued at approximately $24,398,122.40. The trade was a 6.79% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.40% of the company’s stock.

Institutional Trading of Turtle Beach

Several hedge funds have recently made changes to their positions in TBCH. California State Teachers Retirement System increased its stake in shares of Turtle Beach by 200.4% during the second quarter. California State Teachers Retirement System now owns 2,565 shares of the company’s stock worth $32,000 after acquiring an additional 1,711 shares during the period. BNP Paribas Financial Markets lifted its position in Turtle Beach by 87.2% in the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares during the period. Lazard Asset Management LLC acquired a new stake in Turtle Beach in the second quarter valued at about $76,000. New York State Common Retirement Fund purchased a new stake in Turtle Beach in the 2nd quarter valued at approximately $81,000. Finally, JPMorgan Chase & Co. purchased a new stake in Turtle Beach in the 2nd quarter valued at approximately $99,000. 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.