Frederick J. Romano Sells 1,200,000 Shares of Turtle Beach Corporation (HEAR) Stock
Turtle Beach Corporation (NASDAQ:HEAR) insider Frederick J. Romano sold 1,200,000 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $0.73, for a total value of $876,000.00. Following the transaction, the insider now owns 3,433,489 shares of the company’s stock, valued at $2,506,446.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Turtle Beach Corporation (HEAR) opened at 0.701 on Wednesday. Turtle Beach Corporation has a 12 month low of $0.56 and a 12 month high of $2.00. The company has a 50-day moving average price of $0.79 and a 200-day moving average price of $0.77. The company’s market capitalization is $34.62 million.
Turtle Beach Corporation (NASDAQ:HEAR) last issued its earnings results on Thursday, August 10th. The communications equipment provider reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The company had revenue of $19.11 million during the quarter, compared to analysts’ expectations of $17.54 million. On average, analysts forecast that Turtle Beach Corporation will post ($0.07) EPS for the current fiscal year.
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HEAR has been the subject of a number of research reports. Zacks Investment Research downgraded Turtle Beach Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. B. Riley reiterated a “neutral” rating and set a $1.30 target price on shares of Turtle Beach Corporation in a research report on Tuesday, July 18th. Finally, ValuEngine downgraded Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.
A hedge fund recently bought a new stake in Turtle Beach Corporation stock. Coldstream Capital Management Inc. bought a new stake in Turtle Beach Corporation (NASDAQ:HEAR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned approximately 9.58% of Turtle Beach Corporation as of its most recent SEC filing. 16.04% of the stock is currently owned by institutional investors.
About Turtle Beach Corporation
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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