Pullen Investment Management LLC Buys Shares of 73,779 Turtle Beach Corporation $TBCH

Pullen Investment Management LLC bought a new position in Turtle Beach Corporation (NASDAQ:TBCH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 73,779 shares of the company’s stock, valued at approximately $1,173,000. Pullen Investment Management LLC owned about 0.37% of Turtle Beach at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Garnet Equity Capital Holdings Inc. bought a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $22,608,000. Bank of America Corp DE bought a new position in Turtle Beach during the second quarter valued at approximately $6,930,000. AWM Investment Company Inc. acquired a new stake in Turtle Beach in the second quarter valued at approximately $6,256,000. Geode Capital Management LLC bought a new stake in Turtle Beach in the second quarter worth approximately $5,438,000. Finally, North Star Investment Management Corp. acquired a new position in shares of Turtle Beach during the 2nd quarter worth $3,153,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TBCH. Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 6th. B. Riley assumed coverage on shares of Turtle Beach in a research report on Thursday, October 2nd. They set a “buy” rating and a $21.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. Roth Capital reduced their price target on Turtle Beach from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Wedbush increased their price objective on Turtle Beach from $13.50 to $14.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Turtle Beach presently has a consensus rating of “Hold” and an average target price of $18.00.

Turtle Beach Stock Down 1.2%

TBCH stock opened at $13.47 on Wednesday. The stock has a market capitalization of $260.11 million, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.73 and a beta of 2.15. The company has a 50-day moving average of $14.07 and a two-hundred day moving average of $14.76. Turtle Beach Corporation has a 52-week low of $8.78 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 0.75.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.07). Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%.The business had revenue of $80.46 million during the quarter. As a group, equities research analysts anticipate that Turtle Beach Corporation will post 1.17 EPS for the current year.

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.