Pullen Investment Management LLC Acquires 33,013 Shares of Turtle Beach Corporation $TBCH

Pullen Investment Management LLC lifted its holdings in shares of Turtle Beach Corporation (NASDAQ:TBCH) by 20.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,581 shares of the company’s stock after purchasing an additional 33,013 shares during the quarter. Pullen Investment Management LLC owned about 1.08% of Turtle Beach worth $2,472,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. WINTON GROUP Ltd acquired a new position in shares of Turtle Beach in the second quarter valued at approximately $141,000. AXQ Capital LP purchased a new stake in Turtle Beach during the 2nd quarter worth approximately $211,000. Hennessy Advisors Inc. purchased a new stake in Turtle Beach during the 2nd quarter worth approximately $150,000. Pinnacle Holdings LLC acquired a new stake in Turtle Beach during the 2nd quarter worth approximately $798,000. Finally, Globeflex Capital L P acquired a new stake in Turtle Beach during the 2nd quarter worth approximately $596,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TBCH. Zacks Research raised shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 6th. Roth Capital restated a “buy” rating and issued a $18.00 price target on shares of Turtle Beach in a research note on Thursday, October 15th. Weiss Ratings raised Turtle Beach from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, October 19th. Finally, Wall Street Zen upgraded Turtle Beach from a “hold” rating to a “buy” rating in a research note on Saturday, October 3rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $16.40.

Insider Activity at Turtle Beach

In other news, major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the sale, the insider owned 1,921,112 shares of the company’s stock, valued at approximately $24,398,122.40. This trade represents a 6.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $16.46 on Monday. The firm has a market capitalization of $294.80 million, a PE ratio of -78.38 and a beta of 2.36. The business’s fifty day moving average price is $13.23 and its 200 day moving average price is $12.60. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.38 and a quick ratio of 1.30. Turtle Beach Corporation has a 12 month low of $9.84 and a 12 month high of $17.39.

Turtle Beach (NASDAQ:TBCH) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.08). The business had revenue of $56.37 million during the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. On average, sell-side analysts anticipate that Turtle Beach Corporation will post 0.68 earnings per share for the current fiscal year.

Turtle Beach Profile

Turtle Beach Corporation (NASDAQ: TBCH) develops and markets gaming accessories and related consumer technology products. Its portfolio includes gaming headsets, controllers, keyboards, mice, microphones, and other accessories designed for use with consoles, PCs, and mobile devices. The company also offers products for flight simulation and other gaming applications.

The company’s products are sold under the Turtle Beach brand and, following its acquisition of Performance Designed Products, under brands including PDP.