Turtle Beach (NASDAQ:TBCH – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Wall Street Zen reports.
A number of other research firms have also issued reports on TBCH. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Zacks Research lowered Turtle Beach from a “hold” rating to a “strong sell” rating in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Turtle Beach currently has a consensus rating of “Hold” and a consensus target price of $16.80.
Check Out Our Latest Report on Turtle Beach
Turtle Beach Price Performance
Turtle Beach (NASDAQ:TBCH – Get Free Report) last issued 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). The company had revenue of $56.37 million during the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. As a group, sell-side analysts expect that Turtle Beach will post 0.68 earnings per share for the current year.
Insiders Place Their Bets
In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction on 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 owned 1,775,441 shares of the company’s stock, valued at $23,080,733. The trade was a 0.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.40% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its position in Turtle Beach by 26.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after buying an additional 90,677 shares in the last quarter. Globeflex Capital L P bought a new stake in shares of Turtle Beach during the 2nd quarter worth about $596,000. Pinnacle Holdings LLC acquired a new stake in shares of Turtle Beach in the 2nd quarter worth approximately $798,000. California State Teachers Retirement System boosted its stake in Turtle Beach by 200.4% during the 2nd quarter. California State Teachers Retirement System now owns 2,565 shares of the company’s stock valued at $32,000 after purchasing an additional 1,711 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Turtle Beach during the 2nd quarter valued at $211,000. Institutional investors 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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