Alyeska Investment Group L.P. Makes New Investment in Corsair Gaming, Inc. (NASDAQ:CRSR)

Alyeska Investment Group L.P. purchased a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 227,402 shares of the company's stock, valued at approximately $1,503,000. Alyeska Investment Group L.P. owned approximately 0.22% of Corsair Gaming as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC raised its position in Corsair Gaming by 257.3% in the 3rd quarter. Barclays PLC now owns 78,933 shares of the company's stock valued at $549,000 after purchasing an additional 56,841 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company's stock worth $463,000 after purchasing an additional 40,015 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock worth $38,426,000 after purchasing an additional 148,674 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Corsair Gaming during the fourth quarter worth $912,000. Finally, Invesco Ltd. increased its holdings in Corsair Gaming by 28.4% in the fourth quarter. Invesco Ltd. now owns 578,749 shares of the company's stock valued at $3,826,000 after buying an additional 127,948 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company's stock.

Insiders Place Their Bets

In other news, CFO Michael G. Potter sold 4,124 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the sale, the chief financial officer now directly owns 125,650 shares in the company, valued at $1,266,552. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 58.89% of the stock is currently owned by insiders.

Corsair Gaming Price Performance

Shares of CRSR traded up $0.09 during mid-day trading on Friday, hitting $7.55. The company's stock had a trading volume of 929,279 shares, compared to its average volume of 730,161. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The firm has a market capitalization of $798.93 million, a P/E ratio of -7.95 and a beta of 1.70. The firm has a 50-day simple moving average of $8.16 and a 200 day simple moving average of $8.19.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The company had revenue of $369.75 million during the quarter, compared to analysts' expectations of $366.20 million. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. Corsair Gaming's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.09 EPS. Analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Robert W. Baird set a $10.00 price objective on Corsair Gaming in a research report on Wednesday. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Corsair Gaming in a report on Monday, May 5th. The Goldman Sachs Group cut their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Barclays decreased their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Corsair Gaming has a consensus rating of "Moderate Buy" and an average price target of $10.00.

About Corsair Gaming

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.