Insider Buying: Turtle Beach Corporation (NASDAQ:HEAR) CEO Buys 83,333 Shares of Stock

Turtle Beach Corporation (NASDAQ:HEAR) CEO Juergen M. Stark purchased 83,333 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were bought at an average cost of $0.54 per share, for a total transaction of $44,999.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Shares of Turtle Beach Corporation (NASDAQ HEAR) traded up $0.02 during trading hours on Monday, reaching $0.54. 56,700 shares of the company were exchanged, compared to its average volume of 244,662. Turtle Beach Corporation has a 1 year low of $0.47 and a 1 year high of $1.74. The company has a debt-to-equity ratio of -0.74, a current ratio of 1.06 and a quick ratio of 0.42.

Turtle Beach (NASDAQ:HEAR) last posted its quarterly earnings results on Thursday, November 2nd. The communications equipment provider reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $35.98 million for the quarter, compared to analyst estimates of $39.85 million. sell-side analysts anticipate that Turtle Beach Corporation will post -0.06 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of HEAR. Virtu KCG Holdings LLC acquired a new stake in shares of Turtle Beach during the 2nd quarter valued at approximately $107,000. Coldstream Capital Management Inc. acquired a new stake in shares of Turtle Beach during the 2nd quarter valued at approximately $3,310,000. Perkins Capital Management Inc. lifted its position in shares of Turtle Beach by 19.0% during the 3rd quarter. Perkins Capital Management Inc. now owns 626,359 shares of the communications equipment provider’s stock valued at $520,000 after acquiring an additional 100,059 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Turtle Beach during the 3rd quarter valued at approximately $116,000. Institutional investors own 16.33% of the company’s stock.

HEAR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Turtle Beach from a “hold” rating to a “buy” rating and set a $0.75 price objective for the company in a research report on Tuesday, August 15th. ValuEngine downgraded shares of Turtle Beach from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

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About Turtle Beach

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.

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