Turtle Beach (NASDAQ:TBCH) Announces Earnings Results, Misses Expectations By $0.07 EPS

Turtle Beach (NASDAQ:TBCH) issued its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.07), FiscalAI reports. The firm had revenue of $80.46 million during the quarter. Turtle Beach had a return on equity of 16.14% and a net margin of 5.26%. Turtle Beach updated its FY 2025 guidance to EPS.

Turtle Beach Stock Down 3.5%

Shares of TBCH traded down $0.52 on Friday, reaching $14.43. The stock had a trading volume of 728,947 shares, compared to its average volume of 202,833. The firm has a market capitalization of $285.86 million, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 0.86 and a beta of 2.01. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. The company has a 50-day simple moving average of $15.60 and a 200-day simple moving average of $14.06. Turtle Beach has a 12-month low of $8.78 and a 12-month high of $19.50.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TBCH. Roth Capital reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Turtle Beach in a research note on Monday, October 27th. Wedbush lifted their price objective on Turtle Beach from $13.50 to $14.00 and gave the stock a “neutral” rating in a report on Friday. B. Riley assumed coverage on Turtle Beach in a report on Thursday, October 2nd. They set a “buy” rating and a $21.00 target price for the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Turtle Beach in a research note on Wednesday, October 8th. Finally, Oppenheimer restated an “outperform” rating and issued a $19.00 target price on shares of Turtle Beach in a report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Turtle Beach presently has a consensus rating of “Moderate Buy” and an average price target of $18.40.

Insider Activity

In other news, major shareholder Dc Vga Llc sold 1,388,888 shares of the company’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $14.41, for a total value of $20,013,876.08. Following the completion of the transaction, the insider owned 2,061,112 shares of the company’s stock, valued at $29,700,623.92. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Z. Wyatt bought 693,962 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were acquired at an average price of $14.41 per share, with a total value of $9,999,992.42. Following the transaction, the director directly owned 693,962 shares of the company’s stock, valued at $9,999,992.42. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. 3.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Turtle Beach

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its stake in Turtle Beach by 290.0% during the third quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company’s stock valued at $442,000 after acquiring an additional 20,664 shares in the last quarter. LSV Asset Management bought a new position in shares of Turtle Beach during the 3rd quarter valued at about $2,304,000. Envestnet Asset Management Inc. grew its position in shares of Turtle Beach by 21.6% during the third quarter. Envestnet Asset Management Inc. now owns 13,536 shares of the company’s stock valued at $215,000 after purchasing an additional 2,408 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Turtle Beach by 44.9% in the third quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock worth $87,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Pullen Investment Management LLC bought a new position in Turtle Beach during the third quarter valued at approximately $1,173,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

About Turtle Beach

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.