Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 0.85MM shares of Turtle Beach Corp (HEAR). This represents 5.11% of the company.
In their previous filing dated February 10, 2022 they reported 0.81MM shares and 5.03% of the company, an increase in shares of 4.89% and an increase in total ownership of 0.08% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 69.79% Upside
As of February 9, 2023, the average one-year price target for Turtle Beach is $14.08. The forecasts range from a low of $10.10 to a high of $18.90. The average price target represents an increase of 69.79% from its latest reported closing price of $8.29.
The projected annual revenue for Turtle Beach is $294MM, an increase of 18.31%. The projected annual EPS is -$0.04.
What is the Fund Sentiment?
There are 250 funds or institutions reporting positions in Turtle Beach. This is a decrease of 43 owner(s) or 14.68% in the last quarter. Average portfolio weight of all funds dedicated to HEAR is 0.13%, a decrease of 23.02%. Total shares owned by institutions decreased in the last three months by 7.21% to 13,439K shares. The put/call ratio of HEAR is 0.73, indicating a bullish outlook.
What are large shareholders doing?
Hudson Bay Capital Management holds 921K shares representing 5.56% ownership of the company. In it's prior filing, the firm reported owning 494K shares, representing an increase of 46.32%. The firm increased its portfolio allocation in HEAR by 21.61% over the last quarter.
Hawkeye Capital Management holds 825K shares representing 4.98% ownership of the company. No change in the last quarter.
AWM Investment holds 633K shares representing 3.83% ownership of the company. No change in the last quarter.
D. E. Shaw & holds 555K shares representing 3.35% ownership of the company. In it's prior filing, the firm reported owning 579K shares, representing a decrease of 4.29%. The firm decreased its portfolio allocation in HEAR by 60.80% over the last quarter.
SCW Capital Management holds 536K shares representing 3.24% ownership of the company. No change in the last quarter.
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.
This story originally appeared on Fintel.
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