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Monday, June 17, 2019 10:40:42 AM
Jun. 17, 2019 10:29 AM ET|Includes: Turtle Beach Corporation (HEAR), MCHX, PSDO
https://seekingalpha.com/instablog/498952-bret-jensen/5316826-3-small-technology-stocks-insiders-buying
Coffee and chocolate—the inventor of mocha should be sainted.” ? Cherise Sinclair, Hour of the Lion
The market has done quite a bit better here in June compared with May, where the overall market fell just over six percent. Tensions with Iran and China still remain headwinds for equities. This has been counterbalanced nicely by increasing consensus the next move by the Federal Reserve will be an in interest rate cut, most likely at the September Fed meeting.
We are approximately a month away from the start of second quarter earnings season. So what are insiders buying now given the current uncertainty in the market? It appears there is some buying across the small technology sector. Here are three names that caught our eye.
Let's start with Turtle Beach (HEAR). This company is based just outside San Diego. Turtle Beach also develops various gaming headset solutions for various platforms, including video game and entertainment consoles, handheld consoles, personal computers, and mobile and tablet devices under the Turtle Beach brand. In addition, it provides directional audio with applications in digital signage and kiosks, consumer electronics, and hearing healthcare under the brand name of HyperSound.
Source: Investor Presentation
The stock is seeing its first insider buying since November of 2017. Two separate directors, the company's CFO and its CEO together bought nearly $500,000 in new shares in a half dozen transactions for June 7th to June 13th.
Despite delivering a solid Q1 earnings report on May 8th, the shares trade near 52 week lows and off some 60% from highs last year. Q2 guidance was lower than the consensus but the company did reaffirm 2019 full year guidance of between $240-248 million in revenue and and $0.90-1.00 in EPS. Gross margins did fall to 33% from 36.8% in Q1. Insiders seem to signaling the shares look undervalued at current trading levels.
Recent HEAR News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 08:05:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/13/2024 01:21:55 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/11/2024 08:57:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 09:37:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/31/2024 09:25:43 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/30/2024 08:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/28/2024 09:00:10 PM
- PDP Expands Its Award-Winning Victrix Pro FS Arcade Fight Stick Line With Two New Limited-Edition Designs • Business Wire • 05/28/2024 12:30:00 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 05/21/2024 10:08:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/21/2024 10:03:11 PM
- Raise Your Rank With Turtle Beach – New Gaming Headsets, Keyboards, & Mice – Now Available • Business Wire • 05/20/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 11:23:54 PM
- PDP’s Victrix Gambit Prime Wired Tournament Controller Is Engineered to Win & Available Now • Business Wire • 05/16/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 10:39:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 09:27:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 09:22:04 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 09:31:02 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 09:00:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:56:42 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/07/2024 08:53:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:20:17 PM
- Turtle Beach Announces First Quarter 2024 Earnings Results • Business Wire • 05/07/2024 08:05:00 PM
- Turtle Beach Corporation to Report First Quarter 2024 Financial Results on Tuesday, May 7, 2024 • Business Wire • 04/23/2024 08:05:00 PM
- PDP Celebrates Fortnite Festival Season 3 With the Launch of the RIFFMASTER Wireless Guitar Controller • Business Wire • 04/23/2024 01:15:00 PM
- Best-Selling Gaming Accessory Brand Turtle Beach Unveils New Gaming Headsets, Keyboards, & Mice Launching May 2024 • Business Wire • 04/18/2024 12:30:00 PM
FEATURED POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • Jun 26, 2024 10:09 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM
ECGI Holdings Targets $9.7 Billion Equestrian Apparel Market with Allon Brand Launch • ECGI • Jun 25, 2024 8:36 AM
Avant Technologies Addresses Progress on AI Supercomputer-Driven Data Centers • AVAI • Jun 25, 2024 8:00 AM