Turtle Beach (NASDAQ:TBCH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Turtle Beach (NASDAQ:TBCH) from a hold rating to a buy rating in a research note released on Monday,Wall Street Zen reports.

TBCH has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research lowered shares of Turtle Beach from a “hold” rating to a “strong sell” rating in a report on Friday, August 7th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $15.00 target price on shares of Turtle Beach in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $16.80.

Turtle Beach Trading Up 3.5%

NASDAQ TBCH opened at $12.47 on Monday. The stock has a market cap of $223.34 million, a P/E ratio of -59.38 and a beta of 2.31. Turtle Beach has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The stock has a 50 day simple moving average of $12.66 and a two-hundred day simple moving average of $12.18. 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 (NASDAQ:TBCH) last posted its earnings results on Thursday, August 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.08). The business had revenue of $56.37 million for the quarter. Turtle Beach had a negative net margin of 1.07% and a negative return on equity of 2.26%. On average, analysts forecast that Turtle Beach will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In other Turtle Beach news, major shareholder Dc Vga Llc sold 5,671 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $13.00, for a total value of $73,723.00. Following the completion of the transaction, the insider owned 1,775,441 shares in the company, valued at approximately $23,080,733. This represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is currently owned by insiders.

Institutional Trading of Turtle Beach

A number of hedge funds have recently modified their holdings of the business. Deutsche Bank AG grew its position in shares of Turtle Beach by 8.4% in the 4th quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock worth $163,000 after buying an additional 898 shares during the period. BNP Paribas Financial Markets lifted its position in Turtle Beach by 87.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after acquiring an additional 1,392 shares during the period. California State Teachers Retirement System boosted its stake in Turtle Beach by 200.4% during the second quarter. California State Teachers Retirement System now owns 2,565 shares of the company’s stock worth $32,000 after acquiring an additional 1,711 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Turtle Beach by 9.4% during the fourth quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock worth $349,000 after acquiring an additional 2,132 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Turtle Beach by 13.4% in the third quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock worth $314,000 after purchasing an additional 2,335 shares during the period. 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.