Turtle Beach Strengthens Position with Strategic Review and Activist Board Member
May 10, 2023
Trending News ☀️
Turtle Beach ($NASDAQ:HEAR), a leader in the gaming industry, has announced a plan to conduct a strategic review and has appointed an activist board member in an effort to strengthen its current position. This move is aimed at increasing the company’s value and improving overall operations. Turtle Beach is a publicly traded company that designs and markets audio technology for video game and mobile devices. The strategic review and board appointment is intended to improve the company’s performance and profitability over time. The appointed activist board member will help ensure that the company is taking the necessary steps to reach its goals.
This includes closely monitoring financial performance, evaluating growth opportunities, and delivering improved returns to shareholders. By implementing these measures, Turtle Beach is confident that it will be able to continue to provide exceptional service to its customers and strengthen its position in the gaming industry. The strategic review and the addition of the activation board member are sure to deliver great results for the company and its shareholders.
Stock Price
On Monday, Turtle Beach saw its stock plunge by 11.7% from the last closing price of 13.0, opening at 12.7 and closing at 11.5. This follows the company’s announcement of a strategic review and the recent addition of an activist board member. The strategic review was initiated to ensure that Turtle Beach is taking the necessary steps to optimize its business operations and maximize its shareholder value. The addition of an activist board member has further strengthened the company’s ability to assess and make changes to its strategy. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Turtle Beach. More…
| Total Revenues | Net Income | Net Margin |
| 244.95 | -59.77 | -23.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Turtle Beach. More…
| Operations | Investing | Financing |
| 0.49 | -3.83 | 0.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Turtle Beach. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 146.51 | 61.75 | 5.11 |
Key Ratios Snapshot
Some of the financial key ratios for Turtle Beach are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.9% | -27.7% | -20.8% |
| FCF Margin | ROE | ROA |
| -1.4% | -36.6% | -21.7% |
Analysis
GoodWhale conducted an analysis of TURTLE BEACH‘s wellbeing. After looking at the Star Chart, we classified TURTLE BEACH as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. This means that TURTLE BEACH is likely to be of interest to investors who value assets over other metrics. Our assessment of TURTLE BEACH’s overall health score was 6/10. This suggests that, though it has adequate cashflows and debt, it may not be able to sustain operations in times of crisis. Looking deeper, our analysis showed that TURTLE BEACH is strong in terms of assets, medium in terms of growth, profitability and dividends. More…
Peers
In the world of video game accessories, there is stiff competition between Turtle Beach Corp and its competitors Quixant PLC, Corsair Gaming Inc, and Bigben Interactive. All four companies produce high-quality products that appeal to gamers of all levels of interest and expertise. While each company has its own strengths and weaknesses, all four are constantly striving to one-up the competition in an effort to gain market share.
– Quixant PLC ($LSE:QXT)
Quixant PLC is a designer and manufacturer of gaming platforms for the global gaming industry. The company has a market cap of 111.3M as of 2022 and a Return on Equity of 6.78%. Quixant’s products are used in a variety of gaming applications, including video lottery terminals, casino slot machines, and online gaming platforms. The company’s products are designed to provide a high level of performance, reliability, and flexibility to gaming operators.
– Corsair Gaming Inc ($NASDAQ:CRSR)
Corsair Gaming Inc is a company that manufactures and sells gaming peripherals and other gaming products. The company has a market cap of 1.21B as of 2022 and a return on equity of -2.68%. The company’s products include gaming keyboards, mice, headsets, and other gaming accessories.
– Bigben Interactive ($LTS:0O0E)
Bigben Interactive is a French company that specializes in the design and distribution of video game products. The company has a market capitalization of 141.94 million as of 2022 and a return on equity of 4.82%. Bigben Interactive is a publicly traded company on the Euronext Paris stock exchange. The company’s products are available in more than 50 countries.
Summary
Turtle Beach Corporation, a gaming audio and accessories company, recently announced plans to conduct a strategic review and appointed an activist investor to its board. This announcement caused its stock price to decrease the same day. Investors should pay close attention to Turtle Beach’s steps towards its strategic review, as it could have a profound impact on the company’s value.
Additionally, the activist investor’s presence on the board may bring forward changes that could further influence the stock price. It will be important for investors to closely monitor the company’s news and financials to make informed decisions about investing in Turtle Beach.
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