Turtle Beach Corporation $TBCH Stock: Pullen Investment Management LLC Raises Position

Pullen Investment Management LLC grew its stake in Turtle Beach Corporation (NASDAQ:TBCH) by 20.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,581 shares of the company’s stock after buying an additional 33,013 shares during the period. Pullen Investment Management LLC’s holdings in Turtle Beach were worth $2,472,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after acquiring an additional 90,677 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in Turtle Beach in the second quarter valued at $741,000. Globeflex Capital L P purchased a new stake in Turtle Beach in the second quarter valued at $596,000. Pinnacle Holdings LLC purchased a new stake in Turtle Beach in the second quarter valued at $798,000. Finally, North Star Investment Management Corp. boosted its stake in Turtle Beach by 20.4% in the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock valued at $2,100,000 after acquiring an additional 35,144 shares in the last quarter. Institutional investors and hedge funds own 67.01% of the company’s stock.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $12.70, for a total transaction 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. This trade represents a 6.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 3.40% of the company’s stock.

Turtle Beach Stock Performance

Shares of TBCH opened at $16.46 on Monday. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The firm has a market cap of $294.80 million, a PE ratio of -78.38 and a beta of 2.36. The company’s 50 day simple moving average is $13.23 and its 200-day simple moving average is $12.60. Turtle Beach Corporation has a 12-month low of $9.84 and a 12-month high of $17.39.

Turtle Beach (NASDAQ:TBCH) last announced its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $56.37 million during the quarter. As a group, equities analysts predict that Turtle Beach Corporation will post 0.68 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TBCH shares. Roth Capital reiterated a “buy” rating and set a $18.00 target price on shares of Turtle Beach in a research report on Thursday, October 15th. Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Weiss Ratings raised Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, October 19th. Finally, Wall Street Zen upgraded Turtle Beach from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $16.40.

About Turtle Beach

Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications.

The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.