Parametric Sound Corp. (HEAR) Major Shareholder Carmine J. Bonanno Sells 16,900 Shares
Parametric Sound Corp. (NASDAQ:HEAR) major shareholder Carmine J. Bonanno sold 16,900 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $0.97, for a total value of $16,393.00. Following the sale, the insider now owns 1,878,777 shares of the company’s stock, valued at $1,822,413.69. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Parametric Sound Corp. (NASDAQ:HEAR) traded up 16.50% during midday trading on Wednesday, hitting $1.20. The stock had a trading volume of 6,153,081 shares. Parametric Sound Corp. has a 12-month low of $0.83 and a 12-month high of $3.72. The firm’s market cap is $59.07 million. The stock has a 50-day moving average price of $1.04 and a 200 day moving average price of $1.04.
Parametric Sound Corp. (NASDAQ:HEAR) last announced its quarterly earnings data on Tuesday, August 9th. The company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.24) by $0.01. The firm earned $29.40 million during the quarter, compared to the consensus estimate of $24.94 million. Parametric Sound Corp. had a negative net margin of 67.31% and a negative return on equity of 65.64%. On average, equities analysts anticipate that Parametric Sound Corp. will post ($0.45) earnings per share for the current fiscal year.
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Separately, B. Riley reiterated a “buy” rating and set a $2.00 price objective on shares of Parametric Sound Corp. in a research note on Wednesday, August 31st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Parametric Sound Corp. has an average rating of “Buy” and an average price target of $2.36.
An institutional investor recently raised its position in Parametric Sound Corp. stock. Spark Investment Management LLC boosted its position in shares of Parametric Sound Corp. (NASDAQ:HEAR) by 72.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,700 shares of the company’s stock after buying an additional 83,400 shares during the period. Spark Investment Management LLC owned 0.47% of Parametric Sound Corp. worth $226,000 at the end of the most recent reporting period. 8.05% of the stock is currently owned by institutional investors and hedge funds.
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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