Turtle Beach (NASDAQ:TBCH) Issues Quarterly Earnings Results

Turtle Beach (NASDAQ:TBCH) released its quarterly earnings results on Thursday. The company reported $0.87 earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $118.78 million during the quarter. Turtle Beach had a return on equity of 16.44% and a net margin of 5.26%.

Turtle Beach Stock Performance

Shares of Turtle Beach stock traded down $0.08 on Thursday, reaching $13.36. 532,190 shares of the company traded hands, compared to its average volume of 249,019. The company has a 50 day moving average of $12.71 and a 200 day moving average of $14.20. 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 has a 52 week low of $8.78 and a 52 week high of $17.39. The firm has a market capitalization of $257.99 million, a PE ratio of 15.53, a PEG ratio of 0.74 and a beta of 2.22.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $14.00 target price on shares of Turtle Beach in a research report on Monday. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial dropped their price target on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a research note on Monday, December 29th. Finally, Roth Mkm dropped their target price on shares of Turtle Beach from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.80.

Institutional Trading of Turtle Beach

A number of large investors have recently bought and sold shares of the company. BNP Paribas Financial Markets grew 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 acquiring an additional 1,392 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in Turtle Beach during the second quarter valued at about $55,000. Lazard Asset Management LLC bought a new position in Turtle Beach during the second quarter worth about $76,000. Virtus Advisers LLC purchased a new position in shares of Turtle Beach in the second quarter worth about $79,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Turtle Beach in the second quarter valued at approximately $81,000. 67.01% of the stock is owned by hedge funds and other institutional investors.

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.