Turtle Beach Corporation (NASDAQ:TBCH – Get Free Report) saw some unusual options trading on Monday. Traders bought 12,009 call options on the company. This represents an increase of approximately 1,534% compared to the typical volume of 735 call options.
Turtle Beach Stock Performance
Shares of TBCH stock traded up $0.21 during trading hours on Monday, reaching $13.45. 600,941 shares of the company traded hands, compared to its average volume of 310,665. The firm has a 50-day moving average price of $12.76 and a 200 day moving average price of $12.26. The company has a market cap of $240.82 million, a P/E ratio of -63.93 and a beta of 2.36. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach has a 12-month low of $9.84 and a 12-month high of $17.39.
Turtle Beach (NASDAQ:TBCH – Get Free Report) last released 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 firm 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.
Analysts Set New Price Targets
Get Our Latest Analysis on TBCH
Insiders Place Their Bets
In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.70, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Institutional Investors Weigh In On Turtle Beach
A number of institutional investors have recently bought and sold shares of TBCH. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 90,677 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Turtle Beach during the 2nd quarter valued at approximately $741,000. Globeflex Capital L P bought a new stake in Turtle Beach during the 2nd quarter valued at approximately $596,000. Pinnacle Holdings LLC bought a new stake in Turtle Beach during the 2nd quarter valued at approximately $798,000. Finally, WINTON GROUP Ltd purchased a new position in Turtle Beach in the 2nd quarter worth approximately $141,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.
About Turtle Beach
Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.
The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.
Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.
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