Parametric Sound Corp. (HEAR) Major Shareholder Carmine J. Bonanno Sells 1,232,273 Shares of Stock
Parametric Sound Corp. (NASDAQ:HEAR) major shareholder Carmine J. Bonanno sold 1,232,273 shares of the stock in a transaction on Wednesday, September 21st. The shares were sold at an average price of $1.12, for a total value of $1,380,145.76. Following the completion of the transaction, the insider now directly owns 1,878,777 shares in the company, valued at approximately $2,104,230.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Parametric Sound Corp. (NASDAQ:HEAR) opened at 1.20 on Thursday. Parametric Sound Corp. has a 52 week low of $0.83 and a 52 week high of $3.72. The stock’s 50 day moving average price is $1.04 and its 200-day moving average price is $1.04. The company’s market capitalization is $59.07 million.
Parametric Sound Corp. (NASDAQ:HEAR) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. Parametric Sound Corp. had a negative net margin of 67.31% and a negative return on equity of 65.64%. The firm earned $29.40 million during the quarter, compared to the consensus estimate of $24.94 million. On average, equities research analysts predict that Parametric Sound Corp. will post ($0.45) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its position in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned about 0.47% of Parametric Sound Corp. worth $226,000 at the end of the most recent quarter. Institutional investors and hedge funds own 8.05% of the company’s stock.
Separately, B. Riley reissued a “buy” rating and issued a $2.00 target price on shares of Parametric Sound Corp. in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $2.36.
About Parametric Sound Corp.
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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