Carmine J. Bonanno Sells 1,232,273 Shares of Parametric Sound Corp. (HEAR) Stock
Parametric Sound Corp. (NASDAQ:HEAR) major shareholder Carmine J. Bonanno sold 1,232,273 shares of the company’s stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $1.12, for a total value of $1,380,145.76. Following the completion of the sale, the insider now owns 1,878,777 shares of the company’s stock, valued at approximately $2,104,230.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Parametric Sound Corp. (NASDAQ:HEAR) traded up 16.50% during mid-day trading on Wednesday, hitting $1.20. The company had a trading volume of 6,153,081 shares. The firm’s market capitalization is $59.07 million. The company has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.04. Parametric Sound Corp. has a 12 month low of $0.83 and a 12 month high of $3.72.
Parametric Sound Corp. (NASDAQ:HEAR) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.01. Parametric Sound Corp. had a negative return on equity of 65.64% and a negative net margin of 67.31%. The firm had revenue of $29.40 million for the quarter, compared to analysts’ expectations of $24.94 million. Equities analysts forecast that Parametric Sound Corp. will post ($0.45) EPS for the current fiscal year.
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An institutional investor recently raised its position in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its position in Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned approximately 0.47% of Parametric Sound Corp. worth $226,000 at the end of the most recent reporting period. 8.05% of the stock is owned by institutional investors and hedge funds.
Separately, B. Riley restated a “buy” rating and issued a $2.00 price target on shares of Parametric Sound Corp. in a research report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Parametric Sound Corp. presently has an average rating of “Buy” and a consensus price target of $2.36.
Parametric Sound Corp. Company Profile
Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.
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