Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 19,902 Shares

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock in a transaction dated 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 approximately $168,083.30. This represents a 57.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Katherine Lee Scherping also recently made the following trade(s):

• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total value of $1,127.00.

Turtle Beach Stock Up 1.5%

Shares of TBCH opened at $11.80 on Wednesday. The firm has a market cap of $231.28 million, a P/E ratio of 15.13, a PEG ratio of 0.81 and a beta of 2.22. Turtle Beach Corporation has a 12 month low of $8.78 and a 12 month high of $17.39. The stock’s 50 day moving average is $12.44 and its two-hundred day moving average is $13.97. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TBCH. Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. B. Riley Financial cut their target price on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Wedbush reduced their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Windward Management LP purchased a new position in Turtle Beach in the 4th quarter valued at $24,073,000. Bank of America Corp DE purchased a new stake in shares of Turtle Beach during the second quarter worth $6,930,000. Goldman Sachs Group Inc. grew its holdings in shares of Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock worth $8,369,000 after buying an additional 457,125 shares in the last quarter. AWM Investment Company Inc. acquired a new stake in shares of Turtle Beach in the second quarter valued at about $6,256,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Turtle Beach in the second quarter valued at about $5,438,000. 67.01% of the stock is owned by institutional investors and hedge funds.

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.