BlackRock Amends Turtle Beach Stake to 6.8% as of Dec 31, 2023
Ticker: TBCH · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1493761
| Field | Detail |
|---|---|
| Company | Turtle Beach Corp (TBCH) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock now owns 6.8% of Turtle Beach, a slight change from prior filings.**
AI Summary
BlackRock Inc. has updated its ownership stake in Turtle Beach Corp. (NASDAQ: HEAR) as of December 31, 2023. This amendment (SC 13G/A) indicates that BlackRock now beneficially owns 1,179,880 shares of Turtle Beach's Common Stock, representing 6.8% of the company. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal its confidence (or lack thereof) in the company's future prospects, potentially influencing other investors.
Why It Matters
Large institutional ownership changes can impact stock price and investor sentiment, as BlackRock's moves are often watched closely by the market.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate significant risk.
Analyst Insight
Investors should note BlackRock's continued significant, albeit slightly adjusted, stake in Turtle Beach Corp. and consider it as part of their broader due diligence, but not as a sole reason for investment decisions.
Key Numbers
- 1,179,880 — Shares owned by BlackRock (Represents BlackRock's beneficial ownership in Turtle Beach Corp.)
- 6.8% — Percentage of class owned (Indicates BlackRock's significant stake in Turtle Beach Corp.)
- December 31, 2023 — Reporting Date (The effective date of the ownership data reported in the filing.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Turtle Beach Corp (company) — the subject company whose shares are being reported
- 1,179,880 shares (dollar_amount) — the number of shares beneficially owned by BlackRock Inc.
- 6.8% (dollar_amount) — the percentage of Turtle Beach Corp. common stock beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event requiring this filing
Forward-Looking Statements
- BlackRock will maintain a significant stake in Turtle Beach Corp. for the foreseeable future. (BlackRock Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No: 3) by BlackRock Inc. to update its beneficial ownership of Common Stock in Turtle Beach Corp. as of December 31, 2023, under Rule 13d-1(b).
Which company is the subject of this ownership report?
The subject company is Turtle Beach Corp., identified by CIK 0001493761 and CUSIP Number 900450206.
How many shares of Turtle Beach Corp. Common Stock does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 1,179,880 shares of Turtle Beach Corp. Common Stock as reported in this filing.
What percentage of Turtle Beach Corp.'s Common Stock does BlackRock Inc. now own?
BlackRock Inc. now beneficially owns 6.8% of Turtle Beach Corp.'s Common Stock, based on the information in this SC 13G/A filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding Turtle Beach Corp (TBCH).