Pullen Investment Management LLC Raises Position in Turtle Beach Corporation $TBCH

Pullen Investment Management LLC increased its stake in Turtle Beach Corporation (NASDAQ:TBCH) by 94.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,337 shares of the company’s stock after buying an additional 69,558 shares during the quarter. Pullen Investment Management LLC owned about 0.74% of Turtle Beach worth $2,011,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. purchased a new position in Turtle Beach in the 2nd quarter worth approximately $154,000. Geode Capital Management LLC purchased a new stake in shares of Turtle Beach during the second quarter valued at approximately $5,438,000. JPMorgan Chase & Co. acquired a new position in shares of Turtle Beach during the second quarter worth $99,000. Franklin Resources Inc. acquired a new position in shares of Turtle Beach during the second quarter worth $241,000. Finally, Rhumbline Advisers purchased a new position in shares of Turtle Beach in the second quarter valued at $568,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TBCH has been the subject of a number of recent analyst reports. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. B. Riley Financial decreased their price objective on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of Turtle Beach in a research note on Friday, March 27th. Oppenheimer reaffirmed an “outperform” rating and set a $18.00 target price (down from $20.00) on shares of Turtle Beach in a research report on Friday, March 13th. Finally, Wedbush cut their price target on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Insider Activity at Turtle Beach

In other Turtle Beach news, Director Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $11.62, for a total value of $231,261.24. Following the completion of the transaction, the director owned 14,465 shares of the company’s stock, valued at $168,083.30. The trade was a 57.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.30% of the company’s stock.

Turtle Beach Price Performance

Shares of NASDAQ:TBCH opened at $10.16 on Friday. The firm has a market cap of $199.14 million, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.71 and a beta of 2.30. The company has a fifty day simple moving average of $11.95 and a 200 day simple moving average of $13.72. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. Turtle Beach Corporation has a 12-month low of $8.78 and a 12-month high of $17.39.

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.