Insider Selling: Turtle Beach (NASDAQ:TBCH) Director Sells $89,669.50 in Stock

Turtle Beach Corporation (NASDAQ:TBCH) Director Katherine Lee Scherping sold 6,845 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.10, for a total value of $89,669.50. Following the completion of the sale, the director directly owned 24,254 shares of the company’s stock, valued at approximately $317,727.40. This trade represents a 22.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, May 29th, Katherine Lee Scherping sold 2,000 shares of Turtle Beach stock. The shares were sold at an average price of $13.25, for a total value of $26,500.00.
• 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 value 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 value of $1,127.00.

Turtle Beach Stock Performance

Shares of TBCH stock opened at $13.04 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.46 and a quick ratio of 1.12. The stock has a market cap of $258.84 million, a PE ratio of 434.67, a price-to-earnings-growth ratio of 1.15 and a beta of 2.28. The stock has a 50-day moving average of $11.29 and a 200-day moving average of $12.56. Turtle Beach Corporation has a one year low of $9.84 and a one year high of $17.39.

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. B. Riley Financial lowered their target price on Turtle Beach from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Weiss Ratings cut Turtle Beach from a “hold (c-)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Zacks Research raised Turtle Beach from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 4th. Craig Hallum reissued a “buy” rating and set a $15.00 target price on shares of Turtle Beach in a research note on Friday, May 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $18.00 target price (down from $20.00) on shares of Turtle Beach in a research note on Friday, March 13th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $16.80.

Hedge Funds Weigh In On Turtle Beach

A number of large investors have recently bought and sold shares of the company. Deutsche Bank AG boosted its position in Turtle Beach by 8.4% during the 4th quarter. Deutsche Bank AG now owns 11,592 shares of the company’s stock worth $163,000 after acquiring an additional 898 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company’s stock valued at $48,000 after buying an additional 1,392 shares during the last quarter. AlphaQuest LLC boosted its holdings in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company’s stock valued at $87,000 after buying an additional 1,693 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Turtle Beach by 9.4% in the 4th quarter. State of Wisconsin Investment Board now owns 24,908 shares of the company’s stock valued at $349,000 after buying an additional 2,132 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Turtle Beach by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 19,726 shares of the company’s stock valued at $314,000 after buying an additional 2,335 shares during the last quarter. Institutional investors and hedge funds 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.