Parametric Sound Corp. (NASDAQ:HEAR) major shareholder Carmine J. Bonanno sold 238,841 shares of Parametric Sound Corp. stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $1.02, for a total value of $243,617.82. Following the completion of the transaction, the insider now directly owns 1,878,777 shares in the company, valued at $1,916,352.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Parametric Sound Corp. (NASDAQ:HEAR) traded up 16.50% during mid-day trading on Wednesday, hitting $1.20. The stock had a trading volume of 6,153,081 shares. The stock has a 50 day moving average of $1.04 and a 200-day moving average of $1.04. The stock’s market capitalization is $59.07 million. Parametric Sound Corp. has a 52 week low of $0.83 and a 52 week high of $3.72.

Parametric Sound Corp. (NASDAQ:HEAR) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.01. The company earned $29.40 million during the quarter, compared to analysts’ expectations of $24.94 million. Parametric Sound Corp. had a negative return on equity of 65.64% and a negative net margin of 67.31%. On average, equities research analysts predict that Parametric Sound Corp. will post ($0.45) earnings per share for the current year.

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A hedge fund recently raised its stake in Parametric Sound Corp. stock. Spark Investment Management LLC increased its stake in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent disclosure with the SEC. The fund 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. Institutional investors and hedge funds own 8.05% of the company’s stock.

Separately, B. Riley reaffirmed a “buy” rating and issued a $2.00 price target on shares of Parametric Sound Corp. in a research report on Wednesday, August 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Parametric Sound Corp. presently has a consensus rating of “Buy” and a consensus target price of $2.36.

About Parametric Sound Corp.

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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