Turtle Beach (NASDAQ:TBCH) Earns Buy Rating from Analysts at B. Riley

B. Riley initiated coverage on shares of Turtle Beach (NASDAQ:TBCH) in a research report report published on Wednesday, Marketbeat reports. The firm issued a buy rating and a $21.00 target price on the stock.

Several other equities analysts have also recently weighed in on TBCH. Oppenheimer restated an “outperform” rating and set a $19.00 price target on shares of Turtle Beach in a report on Friday, August 8th. Wedbush reissued a “neutral” rating and issued a $13.50 target price (up from $12.00) on shares of Turtle Beach in a report on Monday, August 4th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Turtle Beach presently has an average rating of “Hold” and a consensus target price of $17.38.

Turtle Beach Stock Performance

Shares of NASDAQ TBCH opened at $15.48 on Wednesday. The company has a market cap of $306.66 million, a P/E ratio of 16.47, a P/E/G ratio of 0.88 and a beta of 1.99. Turtle Beach has a 52-week low of $8.78 and a 52-week high of $19.50. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.81 and a current ratio of 1.83. The firm’s fifty day moving average is $15.29 and its two-hundred day moving average is $13.48.

Turtle Beach (NASDAQ:TBCH) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.13. Turtle Beach had a return on equity of 18.23% and a net margin of 5.53%.The firm had revenue of $56.78 million during the quarter, compared to analyst estimates of $57.23 million. Turtle Beach has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Turtle Beach will post 1.17 EPS for the current fiscal year.

Insider Activity at Turtle Beach

In related news, Director William Z. Wyatt bought 693,962 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $14.41 per share, with a total value of $9,999,992.42. Following the transaction, the director owned 693,962 shares in the company, valued at $9,999,992.42. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Dc Vga Llc sold 1,388,888 shares of the firm’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $14.41, for a total value of $20,013,876.08. Following the completion of the sale, the insider owned 2,061,112 shares of the company’s stock, valued at approximately $29,700,623.92. This represents a 40.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Turtle Beach

Several hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new stake in Turtle Beach in the 2nd quarter worth about $41,000. AlphaQuest LLC bought a new position in shares of Turtle Beach during the second quarter valued at approximately $52,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Turtle Beach in the second quarter worth approximately $55,000. CWM LLC purchased a new stake in shares of Turtle Beach in the second quarter worth approximately $65,000. Finally, Lazard Asset Management LLC purchased a new position in Turtle Beach during the 2nd quarter valued at $76,000. 67.01% of the stock is currently owned by institutional investors.

About Turtle Beach

Turtle Beach Corporation operates as an audio technology company. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game and entertainment consoles, personal computers, handheld consoles, tablets, and mobile devices under the Turtle Beach brand. The company also offers gaming headsets, keyboards, mice, mousepads, and other accessories for the personal computer peripherals market under the brand of ROCCAT, as well as digital USB and analog microphones under the Neat Microphones brand.