Oppenheimer Upgrades Turtle Beach (HEAR)
Fintel reports that on August 9, 2024, Oppenheimer upgraded their outlook for Turtle Beach (NasdaqGM:HEAR) from Perform to Outperform.
Analyst Price Forecast Suggests 76.63% Upside
As of August 6, 2024, the average one-year price target for Turtle Beach is $22.64/share. The forecasts range from a low of $17.17 to a high of $27.30. The average price target represents an increase of 76.63% from its latest reported closing price of $12.82 / share.
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The projected annual revenue for Turtle Beach is 346MM, an increase of 18.99%. The projected annual non-GAAP EPS is 0.55.
What is the Fund Sentiment?
There are 297 funds or institutions reporting positions in Turtle Beach. This is an increase of 51 owner(s) or 20.73% in the last quarter. Average portfolio weight of all funds dedicated to HEAR is 0.10%, an increase of 35.08%. Total shares owned by institutions increased in the last three months by 2.32% to 12,816K shares. 
The put/call ratio of HEAR is 0.22, indicating a bullish outlook.
What are Other Shareholders Doing?
Garnet Equity Capital Holdings holds 665K shares representing 3.09% ownership of the company. In its prior filing, the firm reported owning 379K shares , representing an increase of 42.98%. The firm increased its portfolio allocation in HEAR by 95.48% over the last quarter.
D. E. Shaw holds 592K shares representing 2.75% ownership of the company. In its prior filing, the firm reported owning 515K shares , representing an increase of 12.95%. The firm increased its portfolio allocation in HEAR by 77.15% over the last quarter.
AWM Investment holds 547K shares representing 2.54% ownership of the company. In its prior filing, the firm reported owning 577K shares , representing a decrease of 5.48%. The firm increased its portfolio allocation in HEAR by 48.60% over the last quarter.
Harbert Fund Advisors holds 515K shares representing 2.39% ownership of the company. No change in the last quarter.
Hennessy Advisors holds 489K shares representing 2.27% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Turtle Beach Background Information
(This description is provided by the company.)
Turtle Beach Corporation is one of the world's leading gaming accessory providers. The Turtle Beach brand (www.turtlebeach.com) is known for pioneering first-to-market features and patented innovations in high-quality, comfort-driven headsets for all levels of gamer, making it a fan-favorite brand and the market leader in console gaming audio for the last decade. Turtle Beach's ROCCAT brand (www.roccat.org) combines detail-loving German innovation with a genuine passion for designing the best PC gaming products. Under the ROCCAT brand, Turtle Beach creates award-winning keyboards, mice, headsets, mousepads, and other PC accessories.
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This story originally appeared on Fintel.