Turtle Beach Corporation $TBCH Holdings Decreased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. lowered its stake in Turtle Beach Corporation (NASDAQ:TBCH) by 27.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 83,000 shares of the company’s stock after selling 31,240 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Turtle Beach were worth $1,060,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Pullen Investment Management LLC boosted its position in Turtle Beach by 20.6% during the third quarter. Pullen Investment Management LLC now owns 193,581 shares of the company’s stock valued at $2,472,000 after purchasing an additional 33,013 shares during the last quarter. WINTON GROUP Ltd bought a new position in Turtle Beach in the second quarter valued at approximately $141,000. AXQ Capital LP acquired a new position in shares of Turtle Beach during the 2nd quarter worth approximately $211,000. Hennessy Advisors Inc. acquired a new position in shares of Turtle Beach during the 2nd quarter worth approximately $150,000. Finally, Pinnacle Holdings LLC acquired a new position in shares of Turtle Beach during the 2nd quarter worth approximately $798,000. Institutional investors own 67.01% of the company’s stock.

Turtle Beach Stock Performance

Turtle Beach stock traded down $0.21 during midday trading on Friday, reaching $16.29. 240,606 shares of the company’s stock were exchanged, compared to its average volume of 572,031. The stock’s 50-day simple moving average is $14.39 and its 200 day simple moving average is $12.72. The firm has a market cap of $292.24 million, a price-to-earnings ratio of -325.80 and a beta of 2.36. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.99 and a current ratio of 1.93. Turtle Beach Corporation has a 52 week low of $9.84 and a 52 week high of $17.49.

Turtle Beach (NASDAQ:TBCH) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.02). The business had revenue of $84.70 million during the quarter. Turtle Beach had a negative net margin of 0.17% and a positive return on equity of 0.58%. On average, analysts expect that Turtle Beach Corporation will post 0.78 earnings per share for the current fiscal year.

Analyst Ratings Changes

TBCH has been the topic of a number of analyst reports. Roth Capital reiterated a “buy” rating and set a $18.00 price objective on shares of Turtle Beach in a research note on Thursday, October 15th. Wall Street Zen raised shares of Turtle Beach from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Zacks Research raised shares of Turtle Beach from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Weiss Ratings upgraded shares of Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 19th. Finally, B. Riley Financial cut shares of Turtle Beach from a “buy” rating to a “hold” rating and set a $17.00 price target for the company. in a research note on Friday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.80.

About Turtle Beach

Turtle Beach Corporation develops and markets gaming accessories and audio products for console, PC and mobile players. Its product lineup includes gaming headsets, controllers, keyboards, mice and related accessories sold under the Turtle Beach and PDP brands. The company serves customers through retail and online channels in North America and international markets. Its products are designed for use with major gaming platforms and are aimed at both casual and competitive players. Turtle Beach traces its roots to an audio technology business established in 1975.