Turtle Beach Corporation (HEAR) Rating Lowered to Hold at Zacks Investment Research

Turtle Beach Corporation (NASDAQ:HEAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “Turtle Beach Corporation is an audio technology company. It designs audio products for consumer, commercial and healthcare markets. The company markets premium headsets for use with personal computers, mobile devices and video game consoles under the brand Turtle Beach (TurtleBeach.com). Under the brand HyperSound (HyperSound.com), the company markets pioneering directed audio solutions that have applications in digital signage and kiosks, consumer electronics and healthcare. Turtle Beach Corporation, formerly known as Parametric Sound Corporation, is based in Valhalla, New York. “

Several other research firms have also recently commented on HEAR. B. Riley reaffirmed a “neutral” rating and set a $1.30 price objective on shares of Turtle Beach Corporation in a research report on Tuesday, July 18th. ValuEngine cut Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

Turtle Beach Corporation (NASDAQ:HEAR) last released its quarterly earnings data on Thursday, August 10th. The communications equipment provider reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $19.11 million for the quarter, compared to analysts’ expectations of $17.54 million.

TRADEMARK VIOLATION WARNING: This article was first reported by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another publication, it was illegally copied and reposted in violation of international copyright and trademark legislation. The original version of this article can be read at https://www.com-unik.info/2017/10/13/turtle-beach-corporation-hear-rating-lowered-to-hold-at-zacks-investment-research.html.

In other news, insider Frederick J. Romano sold 56,792 shares of Turtle Beach Corporation stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $0.80, for a total transaction of $45,433.60. Following the transaction, the insider now directly owns 4,702,725 shares of the company’s stock, valued at approximately $3,762,180. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Frederick J. Romano sold 95,555 shares of Turtle Beach Corporation stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $0.80, for a total value of $76,444.00. The disclosure for this sale can be found here. Insiders sold 178,666 shares of company stock worth $142,933 over the last three months. Insiders own 74.00% of the company’s stock.

A hedge fund recently bought a new stake in Turtle Beach Corporation stock. Coldstream Capital Management Inc. bought a new stake in shares of Turtle Beach Corporation (NASDAQ:HEAR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,729,044 shares of the communications equipment provider’s stock, valued at approximately $3,310,000. Coldstream Capital Management Inc. owned 9.58% of Turtle Beach Corporation at the end of the most recent quarter. Institutional investors and hedge funds own 16.06% of the company’s stock.

About Turtle Beach Corporation

Turtle Beach Corporation is an audio technology company. The Company is engaged in developing, commercializing and marketing products under the Turtle Beach and HyperSound brands. The Company operates through two segments: Voyetra Turtle Beach (Headset) and HyperSound. Turtle Beach is a provider of headset solutions for use across multiple platforms, including video game and entertainment consoles, handheld consoles, personal computers, tablets and mobile devices.

What are top analysts saying about Turtle Beach Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Turtle Beach Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit