Turtle Beach (NASDAQ:TBCH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Turtle Beach (NASDAQ:TBCH) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other equities research analysts have also issued reports on TBCH. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Turtle Beach in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $16.80.

Turtle Beach Price Performance

TBCH stock opened at $13.86 on Friday. The stock’s 50 day moving average is $12.70 and its two-hundred day moving average is $12.21. Turtle Beach has a 52-week low of $9.84 and a 52-week high of $17.39. The company has a market capitalization of $248.23 million, a PE ratio of -66.00 and a beta of 2.36. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95.

Turtle Beach (NASDAQ:TBCH) last released its earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The business had revenue of $56.37 million for the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. Analysts predict that Turtle Beach will post 0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Turtle Beach

In related news, major shareholder Dc Vga Llc sold 5,671 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the sale, the insider owned 1,775,441 shares in the company, valued at $23,080,733. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Turtle Beach

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. WINTON GROUP Ltd bought a new stake in shares of Turtle Beach in the 2nd quarter worth approximately $141,000. Hennessy Advisors Inc. bought a new position in Turtle Beach during the 2nd quarter worth $150,000. AXQ Capital LP acquired a new stake in Turtle Beach in the second quarter worth $211,000. Globeflex Capital L P acquired a new stake in Turtle Beach in the second quarter worth $596,000. Finally, Bank of New York Mellon Corp bought a new stake in Turtle Beach in the second quarter valued at $741,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

Turtle Beach Company Profile

Turtle Beach Corporation is a gaming technology company that develops and sells hardware, accessories and software for console, PC and mobile gaming. Its product portfolio includes gaming headsets, controllers, keyboards, mice, microphones, webcams, audio accessories and other peripherals designed for gamers and content creators.

The company markets products under the Turtle Beach brand and has expanded its offerings through additional gaming brands, including ROCCAT and PDP. Its products are distributed through retailers, e-commerce platforms and direct-to-consumer channels in North America, Europe and other international markets.

Turtle Beach traces its roots to the development of computer audio products and has evolved into a broader gaming-accessories provider.