Turtle Beach Corporation (NASDAQ:HEAR) – Wedbush reduced their Q4 2017 earnings estimates for shares of Turtle Beach Corporation in a research report issued to clients and investors on Friday, according to Zacks Investment Research. Wedbush analyst M. Pachter now forecasts that the communications equipment provider will post earnings per share of $0.30 for the quarter, down from their previous forecast of $0.33.
Turtle Beach Corporation (NASDAQ:HEAR) last posted its quarterly earnings data on Thursday, November 2nd. The communications equipment provider reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $35.98 million for the quarter, compared to the consensus estimate of $39.85 million. COPYRIGHT VIOLATION NOTICE: “Q4 2017 EPS Estimates for Turtle Beach Corporation (HEAR) Decreased by Wedbush” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another publication, it was stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://ledgergazette.com/2017/11/17/q4-2017-eps-estimates-for-turtle-beach-corporation-hear-lowered-by-wedbush.html.
HEAR has been the topic of a number of other research reports. ValuEngine lowered Turtle Beach Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research lowered Turtle Beach Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, B. Riley restated a “neutral” rating and set a $1.30 price objective on shares of Turtle Beach Corporation in a research note on Sunday, July 23rd.
Turtle Beach Corporation (HEAR) traded up $0.02 during trading on Monday, reaching $0.54. The company’s stock had a trading volume of 276,100 shares, compared to its average volume of 249,513. Turtle Beach Corporation has a 12-month low of $0.47 and a 12-month high of $1.74. The company has a debt-to-equity ratio of -0.74, a quick ratio of 0.42 and a current ratio of 1.06.
In other news, insider Frederick J. Romano sold 56,792 shares of Turtle Beach Corporation stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $0.80, for a total value of $45,433.60. Following the transaction, the insider now owns 4,702,725 shares in the company, valued at approximately $3,762,180. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederick J. Romano sold 1,200,000 shares of Turtle Beach Corporation stock in a transaction on Friday, October 13th. The shares were sold at an average price of $0.73, for a total value of $876,000.00. Following the completion of the transaction, the insider now owns 3,433,489 shares in the company, valued at approximately $2,506,446.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,378,666 shares of company stock worth $1,018,933. Corporate insiders own 74.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. bought a new position in shares of Turtle Beach Corporation in the 3rd quarter valued at $116,000. Virtu KCG Holdings LLC acquired a new stake in shares of Turtle Beach Corporation during the 2nd quarter valued at $107,000. Perkins Capital Management Inc. boosted its holdings in shares of Turtle Beach Corporation 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 in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new stake in shares of Turtle Beach Corporation during the 2nd quarter valued at $3,310,000. Institutional investors own 16.21% 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.
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