Turtle Beach Corporation (NASDAQ:TBCH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Turtle Beach Corporation (NASDAQ:TBCH) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $17.00.

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

Insider Buying and Selling at Turtle Beach

In related news, Director Katherine Lee Scherping sold 19,902 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $11.62, for a total transaction of $231,261.24. Following the completion of the transaction, the director owned 14,465 shares in the company, valued at $168,083.30. This represents a 57.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Turtle Beach

Several large investors have recently bought and sold shares of TBCH. Windward Management LP acquired a new position in shares of Turtle Beach during the fourth quarter valued at approximately $24,073,000. Goldman Sachs Group Inc. increased its position in shares of Turtle Beach by 328.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company’s stock worth $8,369,000 after purchasing an additional 457,125 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Turtle Beach during the second quarter worth approximately $6,930,000. AWM Investment Company Inc. acquired a new position in Turtle Beach in the 2nd quarter valued at $6,256,000. Finally, Geode Capital Management LLC purchased a new position in Turtle Beach in the 2nd quarter valued at $5,438,000. 67.01% of the stock is currently owned by hedge funds and other institutional investors.

Turtle Beach Price Performance

NASDAQ:TBCH opened at $11.76 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.98 and a debt-to-equity ratio of 0.36. Turtle Beach has a 52 week low of $8.78 and a 52 week high of $17.39. The stock’s 50-day moving average price is $12.40 and its 200-day moving average price is $13.96. The stock has a market capitalization of $230.50 million, a PE ratio of 15.08, a price-to-earnings-growth ratio of 0.83 and a beta of 2.22.

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.