Insider Selling: Turtle Beach (NASDAQ:TBCH) Director Sells $26,500.00 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the sale, the director owned 22,254 shares in the company, valued at approximately $294,865.50. This represents a 8.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Katherine Lee Scherping also recently made the following trade(s):

• On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The shares were sold at an average price of $13.10, for a total transaction of $89,669.50.
• On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The shares were sold at an average price of $11.62, for a total transaction of $231,261.24.
• On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The shares were sold at an average price of $11.50, for a total transaction of $1,127.00.

Turtle Beach Price Performance

Shares of NASDAQ TBCH opened at $13.04 on Monday. Turtle Beach Corporation has a fifty-two week low of $9.84 and a fifty-two week high of $17.39. The firm’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $12.56. The company has a quick ratio of 1.12, a current ratio of 2.46 and a debt-to-equity ratio of 0.40. The stock has a market cap of $258.84 million, a P/E ratio of 434.67, a P/E/G ratio of 1.15 and a beta of 2.28.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.35). Turtle Beach had a net margin of 0.40% and a return on equity of 1.31%. The company had revenue of $42.17 million for the quarter. Equities analysts expect that Turtle Beach Corporation will post 0.71 EPS for the current year.

Analyst Ratings Changes

TBCH has been the topic of a number of recent analyst reports. Wedbush cut their price objective on shares of Turtle Beach from $14.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Weiss Ratings lowered Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 11th. B. Riley Financial lowered their target price on Turtle Beach from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Craig Hallum reaffirmed a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a report on Friday, May 8th. Finally, Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 4th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Turtle Beach currently has a consensus rating of “Hold” and a consensus price target of $16.80.

Hedge Funds Weigh In On Turtle Beach

Institutional investors have recently bought and sold shares of the stock. LSV Asset Management purchased a new position in Turtle Beach in the 3rd quarter worth about $2,304,000. Pullen Investment Management LLC increased its stake in Turtle Beach by 94.3% in the 4th quarter. Pullen Investment Management LLC now owns 143,337 shares of the company’s stock worth $2,011,000 after purchasing an additional 69,558 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Turtle Beach by 290.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 27,789 shares of the company’s stock worth $442,000 after purchasing an additional 20,664 shares in the last quarter. AlphaQuest LLC increased its stake in Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock worth $87,000 after purchasing an additional 1,693 shares in the last quarter. Finally, North Star Investment Management Corp. increased its stake in Turtle Beach by 20.4% in the 1st quarter. North Star Investment Management Corp. now owns 207,144 shares of the company’s stock worth $2,100,000 after purchasing an additional 35,144 shares in the last quarter. Hedge funds and other 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.