Turtle Beach (NASDAQ:TBCH) Major Shareholder Dc Vga Llc Sells 140,000 Shares of Stock

Turtle Beach Corporation (NASDAQ:TBCH) major shareholder Dc Vga Llc sold 140,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $12.70, for a total value of $1,778,000.00. Following the completion of the transaction, the insider directly owned 1,921,112 shares of the company’s stock, valued at $24,398,122.40. The trade was a 6.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Dc Vga Llc also recently made the following trade(s):

• On Wednesday, August 12th, Dc Vga Llc sold 5,671 shares of Turtle Beach stock. The shares were sold at an average price of $13.00, for a total value of $73,723.00.

Turtle Beach Stock Down 0.1%

TBCH traded down $0.01 during trading on Wednesday, reaching $12.87. 218,402 shares of the company were exchanged, compared to its average volume of 324,810. The company’s 50-day moving average is $12.78 and its two-hundred day moving average is $12.15. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.30 and a current ratio of 2.38. Turtle Beach Corporation has a 12-month low of $9.84 and a 12-month high of $17.39.

Wall Street Analysts Forecast Growth

TBCH has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Craig Hallum reaffirmed a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Finally, Zacks Research cut shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.80.

Hedge Funds Weigh In On Turtle Beach

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TBCH. BNP Paribas Financial Markets increased its stake in Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock worth $48,000 after acquiring an additional 1,392 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Turtle Beach during the 2nd quarter valued at about $76,000. New York State Common Retirement Fund bought a new stake in shares of Turtle Beach during the 2nd quarter valued at about $81,000. JPMorgan Chase & Co. purchased a new position in shares of Turtle Beach during the second quarter worth about $99,000. Finally, State of Wyoming purchased a new position in shares of Turtle Beach during the second quarter worth about $120,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

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.