Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 6,845 Shares

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 6,845 shares of the stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.10, for a total transaction of $89,669.50. Following the completion of the transaction, the director owned 24,254 shares in the company, valued at approximately $317,727.40. This trade represents a 22.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Friday, May 29th, Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock. The stock was sold at an average price of $13.25, for a total value of $26,500.00.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total value of $231,261.24.
• 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 Price Performance

Shares of TBCH opened at $13.04 on Friday. The company has a market capitalization of $258.84 million, a P/E ratio of 434.67, a P/E/G ratio of 1.13 and a beta of 2.26. Turtle Beach Corporation has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The business’s 50-day moving average is $11.29 and its two-hundred day moving average is $12.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). The firm had revenue of $42.17 million for the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. Research analysts predict that Turtle Beach Corporation will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On Turtle Beach

Several institutional investors and hedge funds have recently added to or reduced their stakes in TBCH. Windward Management LP acquired a new position in shares of Turtle Beach during the 4th quarter worth approximately $24,073,000. Goldman Sachs Group Inc. boosted its holdings in shares of Turtle Beach by 328.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock worth $8,369,000 after purchasing an additional 457,125 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Turtle Beach during the 2nd quarter valued at about $6,930,000. Dimensional Fund Advisors LP boosted its position in shares of Turtle Beach by 26.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 437,882 shares of the company’s stock valued at $4,440,000 after acquiring an additional 90,677 shares during the last quarter. Finally, Geode Capital Management LLC purchased a new stake in shares of Turtle Beach in the second quarter valued at about $5,438,000. Institutional investors and hedge funds own 67.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TBCH. Weiss Ratings cut Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Oppenheimer restated 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. Wedbush dropped their price target on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. B. Riley Financial dropped their price target on shares of Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Finally, Craig Hallum reissued a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Turtle Beach has an average rating of “Hold” and a consensus target price of $16.80.

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.