Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 19,902 Shares of Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 19,902 shares of the firm’s stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $11.62, for a total value of $231,261.24. Following the sale, the director directly owned 14,465 shares in the company, valued at approximately $168,083.30. This represents a 57.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The shares were sold at an average price of $11.50, for a total value of $1,127.00.

Turtle Beach Price Performance

NASDAQ TBCH opened at $11.76 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 1.98. The stock has a market cap of $230.50 million, a price-to-earnings ratio of 15.08, a PEG ratio of 0.83 and a beta of 2.22. The business has a 50 day simple moving average of $12.40 and a 200 day simple moving average of $13.96. Turtle Beach Corporation has a 52-week low of $8.78 and a 52-week high of $17.39.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TBCH. Wedbush reduced their target price on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. B. Riley Financial reduced their price objective on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. Oppenheimer reiterated an “outperform” rating and set a $18.00 price objective (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Turtle Beach in a research report on Monday, December 29th. Finally, Zacks Research upgraded Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Trading of Turtle Beach

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its position in Turtle Beach by 87.2% during the third quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after purchasing an additional 1,392 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Turtle Beach during the 2nd quarter worth approximately $55,000. Lazard Asset Management LLC acquired a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $76,000. Virtus Advisers LLC acquired a new stake in shares of Turtle Beach in the 2nd quarter valued at approximately $79,000. Finally, New York State Common Retirement Fund bought a new position in shares of Turtle Beach in the second quarter valued at $81,000. Institutional investors own 67.01% of the company’s stock.

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.