Brokerages Set Turtle Beach Corporation (NASDAQ:TBCH) Price Target at $16.80

Turtle Beach Corporation (NASDAQ:TBCH) has earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $16.80.

Several research firms recently commented on TBCH. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research downgraded shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Finally, Wall Street Zen lowered Turtle Beach from a “buy” rating to a “hold” rating in a research note on Tuesday, September 8th.

Insiders Place Their Bets

In other news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of Turtle Beach by 26.1% during the first quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock worth $4,440,000 after buying an additional 90,677 shares in the last quarter. LSV Asset Management lifted its stake in Turtle Beach by 11.2% in the 4th quarter. LSV Asset Management now owns 161,160 shares of the company’s stock valued at $2,261,000 after purchasing an additional 16,260 shares during the last quarter. North Star Investment Management Corp. increased its position in Turtle Beach by 20.4% during the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after buying an additional 35,144 shares during the last quarter. Pullen Investment Management LLC raised its stake in Turtle Beach by 10.8% in the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company’s stock valued at $1,611,000 after buying an additional 15,529 shares during the period. Finally, Pinnacle Holdings LLC bought a new stake in Turtle Beach in the second quarter valued at approximately $798,000. 67.01% of the stock is owned by institutional investors and hedge funds.

Turtle Beach Price Performance

NASDAQ:TBCH opened at $12.69 on Thursday. The firm has a market cap of $227.28 million, a P/E ratio of -60.43 and a beta of 2.31. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95. The business’s 50-day moving average price is $12.63 and its 200 day moving average price is $12.21. Turtle Beach has a 52-week low of $9.84 and a 52-week high of $17.39.

Turtle Beach (NASDAQ:TBCH) last announced its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). The company had revenue of $56.37 million for the quarter. Turtle Beach had a negative return on equity of 2.26% and a negative net margin of 1.07%. As a group, sell-side analysts predict that Turtle Beach will post 0.68 earnings per share for the current fiscal year.

About Turtle Beach

Turtle Beach Corporation is a gaming accessories company that develops, markets and distributes products for console, PC and mobile gaming. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, racing wheels and other gaming peripherals designed to support interactive entertainment and esports.

The company sells products under the Turtle Beach brand and, following its acquisition of Performance Designed Products, also offers products associated with brands such as PDP and its licensed gaming accessories portfolio.