Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Michael G. Potter Sells 1,123 Shares

Key Points

• Corsair Gaming CFO Michael G. Potter sold 1,123 shares of the company stock for $11,319.84, a reduction of 0.91% in his position.
• The company's stock traded up $0.27 to reach $9.30, with a 52-week range of $5.59 to $13.02.
• Corsair Gaming reported quarterly earnings of $0.01 per share, meeting expectations, with a quarterly revenue of $320.11 million, representing a 22.5% year-over-year increase.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) CFO Michael G. Potter sold 1,123 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $10.08, for a total transaction of $11,319.84. Following the completion of the sale, the chief financial officer owned 122,816 shares of the company's stock, valued at approximately $1,237,985.28. This represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Corsair Gaming Stock Performance

NASDAQ:CRSR traded down $0.14 during mid-day trading on Friday, hitting $8.74. The stock had a trading volume of 735,785 shares, compared to its average volume of 602,293. Corsair Gaming, Inc. has a twelve month low of $5.59 and a twelve month high of $13.02. The stock has a market cap of $926.76 million, a price-to-earnings ratio of -10.79 and a beta of 1.77. The company's 50 day simple moving average is $9.31 and its 200 day simple moving average is $9.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.45.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The business had revenue of $320.11 million during the quarter, compared to the consensus estimate of $312.38 million. During the same period last year, the business posted ($0.07) EPS. Corsair Gaming's revenue was up 22.5% on a year-over-year basis. On average, equities research analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its position in Corsair Gaming by 30.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company's stock worth $45,000 after acquiring an additional 1,120 shares during the last quarter. Vontobel Holding Ltd. raised its position in shares of Corsair Gaming by 3.2% in the second quarter. Vontobel Holding Ltd. now owns 45,322 shares of the company's stock valued at $427,000 after buying an additional 1,390 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Corsair Gaming by 24.7% in the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company's stock valued at $74,000 after buying an additional 1,551 shares in the last quarter. Legal & General Group Plc raised its position in shares of Corsair Gaming by 1.3% in the second quarter. Legal & General Group Plc now owns 122,484 shares of the company's stock valued at $1,155,000 after buying an additional 1,592 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Corsair Gaming by 16.4% in the first quarter. Cerity Partners LLC now owns 14,333 shares of the company's stock valued at $127,000 after buying an additional 2,016 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRSR shares. Wedbush reiterated an "outperform" rating and set a $13.00 target price on shares of Corsair Gaming in a report on Monday, May 5th. The Goldman Sachs Group lowered their target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Robert W. Baird set a $10.00 target price on Corsair Gaming in a report on Wednesday, May 7th. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Finally, Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research note on Friday, August 8th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $9.83.

Corsair Gaming Company Profile

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.