Turtle Beach Corporation (NASDAQ:TBCH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Turtle Beach Corporation (NASDAQ:TBCH) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $17.00.

A number of research firms have commented on TBCH. Zacks Research upgraded shares of Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Oppenheimer restated an “outperform” rating and set a $18.00 target price (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Wedbush dropped their price target on Turtle Beach from $14.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Turtle Beach in a report on Monday, December 29th. Finally, B. Riley Financial lowered their price objective on Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th.

Turtle Beach Stock Performance

NASDAQ:TBCH opened at $11.76 on Thursday. The company has a market cap of $230.50 million, a P/E ratio of 15.08, a P/E/G ratio of 0.83 and a beta of 2.22. Turtle Beach has a twelve month low of $8.78 and a twelve month high of $17.39. The company’s 50-day moving average price is $12.40 and its 200-day moving average price is $13.96. The company has a current ratio of 1.98, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

Insider Activity at Turtle Beach

In other news, Director Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $11.62, for a total transaction of $231,261.24. Following the transaction, the director owned 14,465 shares in the company, valued at $168,083.30. The trade was a 57.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Turtle Beach

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Turtle Beach by 9.9% in the 4th quarter. Invesco Ltd. now owns 46,088 shares of the company’s stock valued at $647,000 after buying an additional 4,170 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Turtle Beach during the 4th quarter valued at approximately $149,000. Millennium Management LLC purchased a new stake in shares of Turtle Beach during the 4th quarter valued at approximately $2,626,000. AQR Capital Management LLC lifted its holdings in Turtle Beach by 7.1% in the fourth quarter. AQR Capital Management LLC now owns 124,953 shares of the company’s stock valued at $1,753,000 after acquiring an additional 8,327 shares during the last quarter. Finally, Windward Management LP purchased a new position in Turtle Beach in the fourth quarter worth approximately $24,073,000. 67.01% of the stock is currently owned by institutional investors and hedge funds.

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.