Key Points
- Major shareholder Dc Vga LLC sold 140,000 Turtle Beach shares at an average price of $12.70, generating $1.78 million. The sale reduced its direct stake by 6.79% to 1.92 million shares; it also sold an additional 5,671 shares at $13.00.
- Turtle Beach shares opened at $12.87, within a 52-week range of $9.84 to $17.39. The company has a market capitalization of approximately $230.5 million, while institutional investors own 67.01% of its stock.
- Analyst views are mixed, resulting in a consensus “Hold” rating and an average price target of $16.80. Ratings include four Buys, one Hold and two Sells.
Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) major shareholder Dc Vga Llc sold 5,671 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total value of $73,723.00. Following the sale, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. This represents a 0.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Dc Vga Llc also recently made the following trade(s):
- On Monday, August 10th, Dc Vga Llc sold 140,000 shares of Turtle Beach stock. The shares were sold at an average price of $12.70, for a total transaction of $1,778,000.00.
Turtle Beach Price Performance
Shares of TBCH opened at $12.87 on Thursday. The company has a current ratio of 2.38, a quick ratio of 1.30 and a debt-to-equity ratio of 0.95. The company's fifty day simple moving average is $12.79 and its 200 day simple moving average is $12.14. Turtle Beach Corporation has a 1-year low of $9.84 and a 1-year high of $17.39. The company has a market cap of $230.50 million, a price-to-earnings ratio of -61.29 and a beta of 2.29.
Institutional Investors Weigh In On Turtle Beach
A number of institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company's stock worth $4,440,000 after buying an additional 90,677 shares during the period. North Star Investment Management Corp. grew its stake in shares of Turtle Beach by 20.4% in the first quarter. North Star Investment Management Corp. now owns 207,144 shares of the company's stock valued at $2,100,000 after acquiring an additional 35,144 shares in the last quarter. Pullen Investment Management LLC grew its stake in shares of Turtle Beach by 10.8% in the first quarter. Pullen Investment Management LLC now owns 158,866 shares of the company's stock valued at $1,611,000 after acquiring an additional 15,529 shares in the last quarter. LSV Asset Management increased its position in Turtle Beach by 11.2% during the fourth quarter. LSV Asset Management now owns 161,160 shares of the company's stock worth $2,261,000 after acquiring an additional 16,260 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Turtle Beach by 290.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company's stock worth $442,000 after purchasing an additional 20,664 shares in the last quarter. Institutional investors own 67.01% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Zacks Research cut Turtle Beach from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Weiss Ratings restated a "sell (d)" rating on shares of Turtle Beach in a research note on Friday, August 7th. Finally, Craig Hallum reiterated a "buy" rating and set a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Turtle Beach has a consensus rating of "Hold" and an average target price of $16.80.
View Our Latest Stock Analysis on Turtle Beach
Turtle Beach Company Profile
(
Get Free Report)
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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