Turtle Beach Corporation (NASDAQ:TBCH – Get Free Report) Director Katherine Lee Scherping sold 2,000 shares of the company’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $13.25, for a total transaction of $26,500.00. Following the sale, the director directly owned 22,254 shares of the company’s stock, valued at $294,865.50. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Katherine Lee Scherping also recently made the following trade(s):
- On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The stock was sold at an average price of $13.10, for a total transaction of $89,669.50.
- On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24.
- On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total transaction of $1,127.00.
Turtle Beach Trading Up 1.9%
TBCH opened at $13.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $258.80 million, a price-to-earnings ratio of 434.67, a P/E/G ratio of 1.13 and a beta of 2.26. Turtle Beach Corporation has a twelve month low of $9.84 and a twelve month high of $17.39. The company has a 50-day simple moving average of $11.29 and a 200 day simple moving average of $12.58.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Weiss Ratings downgraded Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Wedbush lowered their price objective on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Craig Hallum reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research note on Friday, May 8th. Finally, Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Four 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.80.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in TBCH. Windward Management LP acquired a new position in shares of Turtle Beach in the fourth quarter valued at approximately $24,073,000. Bank of America Corp DE acquired a new stake in Turtle Beach during the 2nd quarter valued at approximately $6,930,000. Goldman Sachs Group Inc. increased its position in Turtle Beach by 328.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after purchasing an additional 457,125 shares during the period. Geode Capital Management LLC acquired a new stake in Turtle Beach during the 2nd quarter valued at approximately $5,438,000. Finally, Franklin Resources Inc. increased its position in Turtle Beach by 1,338.6% during the 4th quarter. Franklin Resources Inc. now owns 283,780 shares of the company’s stock valued at $3,981,000 after purchasing an additional 264,054 shares during the period. Institutional investors and hedge funds own 67.01% of the company’s stock.
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.
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