Turtle Beach (NASDAQ:TBCH) Downgraded to Hold Rating by Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Turtle Beach (NASDAQ:TBCH – Free Report) from a buy rating to a hold rating in a research report report published on Tuesday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on TBCH. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research cut Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $16.80.

View Our Latest Analysis on Turtle Beach

Turtle Beach Price Performance

Shares of TBCH opened at $12.30 on Tuesday. 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 $12.67 and its 200 day simple moving average is $12.20. Turtle Beach has a 1-year low of $9.84 and a 1-year high of $17.39. The company has a market cap of $220.29 million, a price-to-earnings ratio of -58.57 and a beta of 2.31.

Turtle Beach (NASDAQ:TBCH – Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. The firm had revenue of $56.37 million during the quarter. On average, research analysts forecast that Turtle Beach will post 0.68 earnings per share for the current fiscal year.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of Turtle Beach stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $13.00, for a total transaction of $73,723.00. Following the completion of the transaction, the insider directly owned 1,775,441 shares of the company’s stock, valued at $23,080,733. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Turtle Beach

Several institutional investors and hedge funds have recently modified their holdings of the stock. Windward Management LP acquired a new stake in shares of Turtle Beach during the 4th quarter worth about $24,073,000. Goldman Sachs Group Inc. grew its stake in Turtle Beach by 328.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock valued at $8,369,000 after buying an additional 457,125 shares during the last quarter. Bank of America Corp DE acquired a new position in Turtle Beach in the 2nd quarter valued at about $6,930,000. Dimensional Fund Advisors LP raised its holdings in Turtle Beach by 26.1% in 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 period. Finally, Geode Capital Management LLC bought a new position in Turtle Beach in the 2nd quarter valued at about $5,438,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

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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