Turtle Beach (NASDAQ:TBCH) Director Katherine Lee Scherping Sells 6,845 Shares

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 6,845 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.10, for a total transaction of $89,669.50. Following the completion of the sale, the director owned 24,254 shares in the company, valued at approximately $317,727.40. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, May 29th, Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock. The stock was sold at an average price of $13.25, for a total transaction of $26,500.00.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The stock was sold at an average price of $11.50, for a total transaction of $1,127.00.

Turtle Beach Price Performance

Turtle Beach stock traded up $0.24 during midday trading on Friday, hitting $13.04. The company’s stock had a trading volume of 314,114 shares, compared to its average volume of 298,282. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $11.29 and its 200-day moving average price is $12.58. Turtle Beach Corporation has a 12 month low of $9.84 and a 12 month high of $17.39. The company has a market capitalization of $258.84 million, a PE ratio of 434.67, a price-to-earnings-growth ratio of 1.13 and a beta of 2.26.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.43) by ($0.35). Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%.The business had revenue of $42.17 million during the quarter. Analysts anticipate that Turtle Beach Corporation will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Turtle Beach

A number of institutional investors have recently bought and sold shares of the stock. Windward Management LP purchased a new position in Turtle Beach in the 4th quarter worth about $24,073,000. Goldman Sachs Group Inc. increased 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 worth $8,369,000 after purchasing an additional 457,125 shares in the last quarter. Bank of America Corp DE purchased a new position in Turtle Beach during the 2nd quarter valued at about $6,930,000. Dimensional Fund Advisors LP grew its stake in Turtle Beach by 26.1% during 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 in the last quarter. Finally, Geode Capital Management LLC purchased a new position in Turtle Beach during the 2nd quarter valued at about $5,438,000. Hedge funds and other institutional investors own 67.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Weiss Ratings cut shares of Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research report on Monday, May 11th. B. Riley Financial dropped their price target on Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Oppenheimer reissued an “outperform” rating and issued a $18.00 price target (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Finally, Craig Hallum reissued a “buy” rating and issued a $15.00 price target on shares of Turtle Beach in a research note on Friday, May 8th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Turtle Beach presently has a consensus rating of “Hold” and an average price target of $16.80.

Turtle Beach Company Profile

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.