Turtle Beach (NASDAQ:TBCH) Stock Sees Unusually High Call Option Buying

Turtle Beach Corporation (NASDAQ:TBCH) was the target of some unusual options trading activity on Monday. Stock traders acquired 12,009 call options on the stock. This represents an increase of approximately 1,534% compared to the typical volume of 735 call options.

Insider Buying and Selling at Turtle Beach

In related news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $73,723.00. Following the sale, the insider directly owned 1,775,441 shares of the company’s stock, valued at $23,080,733. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.40% of the company’s stock.

Institutional Investors Weigh In On Turtle Beach

Institutional investors and hedge funds have recently made changes to their positions in the company. WINTON GROUP Ltd acquired a new position in Turtle Beach in the second quarter valued at about $141,000. Hennessy Advisors Inc. bought a new stake in Turtle Beach during the second quarter worth about $150,000. AXQ Capital LP bought a new stake in Turtle Beach during the second quarter worth about $211,000. Globeflex Capital L P acquired a new stake in shares of Turtle Beach during the second quarter worth approximately $596,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Turtle Beach during the second quarter worth approximately $741,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Turtle Beach Price Performance

Shares of TBCH traded up $0.39 during mid-day trading on Tuesday, reaching $13.83. The company had a trading volume of 94,916 shares, compared to its average volume of 310,206. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. The company has a market capitalization of $247.68 million, a P/E ratio of -65.86 and a beta of 2.36. Turtle Beach has a twelve month low of $9.84 and a twelve month high of $17.39. The company’s 50-day moving average is $12.77 and its 200-day moving average is $12.28.

Turtle Beach (NASDAQ:TBCH) last announced 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). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The company had revenue of $56.37 million during the quarter. On average, equities analysts anticipate that Turtle Beach will post 0.68 EPS for the current year.

Analysts Set New Price Targets

TBCH has been the subject of a number of research reports. Wall Street Zen upgraded Turtle Beach from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Turtle Beach presently has a consensus rating of “Hold” and an average target price of $16.80.

Turtle Beach Company Profile

Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.

The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.

Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.