Turtle Beach (NASDAQ:TBCH - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Turtle Beach in a report on Friday, August 7th. Zacks Research lowered Turtle Beach from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Finally, Craig Hallum restated a "buy" rating and issued a $15.00 target price on shares of Turtle Beach in a research report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $16.80.

View Our Latest Stock Report on Turtle Beach

Turtle Beach Trading Down 0.6%

Turtle Beach stock opened at $12.75 on Friday. Turtle Beach has a 52-week low of $9.84 and a 52-week high of $17.39. The company has a quick ratio of 1.30, a current ratio of 2.38 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $228.35 million, a price-to-earnings ratio of -60.71 and a beta of 2.29. The firm has a 50-day moving average price of $12.80 and a two-hundred day moving average price of $12.14.

Insider Transactions at Turtle Beach

In other Turtle Beach news, major shareholder Dc Vga Llc sold 140,000 shares of the business's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $12.70, for a total transaction of $1,778,000.00. Following the sale, the insider directly owned 1,921,112 shares in the company, valued at approximately $24,398,122.40. The trade was a 6.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Katherine Lee Scherping sold 6,845 shares of the business's stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $13.10, for a total transaction of $89,669.50. Following the sale, the director owned 24,254 shares in the company, valued at $317,727.40. This trade represents a 22.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 154,516 shares of company stock valued at $1,967,892 in the last quarter. 3.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TBCH. Windward Management LP bought a new stake in Turtle Beach during the fourth quarter worth approximately $24,073,000. Bank of America Corp DE bought a new position in Turtle Beach during the 2nd quarter valued at $6,930,000. Goldman Sachs Group Inc. boosted its stake in Turtle Beach by 328.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 596,508 shares of the company's stock valued at $8,369,000 after purchasing an additional 457,125 shares in the last quarter. Geode Capital Management LLC acquired a new position in shares of Turtle Beach during the 2nd quarter valued at $5,438,000. Finally, Franklin Resources Inc. increased its position in shares of Turtle Beach by 1,338.6% during the 4th quarter. Franklin Resources Inc. now owns 283,780 shares of the company's stock valued at $3,981,000 after purchasing an additional 264,054 shares during the period. Institutional investors and hedge funds own 67.01% of the company's stock.

About Turtle Beach

(Get Free Report)

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.

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