Globeflex Capital L P purchased a new stake in shares of Turtle Beach Corporation (NASDAQ:TBCH – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 47,911 shares of the company’s stock, valued at approximately $596,000. Globeflex Capital L P owned approximately 0.27% of Turtle Beach as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of TBCH. Deutsche Bank AG increased its position in shares of Turtle Beach by 8.4% in the fourth quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock worth $163,000 after acquiring an additional 898 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after acquiring an additional 1,392 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Turtle Beach by 9.4% during the 4th quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after purchasing an additional 2,132 shares during the period. Franklin Resources Inc. boosted its position in Turtle Beach by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after purchasing an additional 2,335 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in Turtle Beach by 21.6% in the 3rd 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. 67.01% of the stock is currently owned by hedge funds and other institutional investors.
Turtle Beach Stock Performance
Shares of TBCH opened at $12.85 on Wednesday. The firm has a market cap of $230.14 million, a price-to-earnings ratio of -61.19 and a beta of 2.29. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95. The business’s 50 day moving average is $12.71 and its two-hundred day moving average is $12.15. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the company. Wall Street Zen lowered Turtle Beach from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a research report on Friday, August 7th. Finally, Craig Hallum reissued a “buy” rating and issued a $15.00 price objective on shares of Turtle Beach in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $16.80.
Check Out Our Latest Stock Report 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 on Monday, August 10th. The shares were sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the completion of the transaction, the insider directly owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katherine Lee Scherping sold 2,000 shares of the business’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 completion of the sale, the director directly owned 22,254 shares of the company’s stock, valued at $294,865.50. The trade was a 8.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 147,671 shares of company stock worth $1,878,223 over the last quarter. 3.40% of the stock is currently owned by insiders.
Turtle Beach Profile
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.
Featured Articles
- Five stocks we like better than Turtle Beach
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Receive News & Ratings for Turtle Beach Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Turtle Beach and related companies with MarketBeat.com's FREE daily email newsletter.
