Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Sells $11,319.84 in Stock

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 business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $10.08, for a total value of $11,319.84. Following the completion of the transaction, the chief financial officer owned 122,816 shares in the company, valued at $1,237,985.28. The trade was a 0.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Corsair Gaming Stock Performance

CRSR stock traded up $0.27 during midday trading on Tuesday, reaching $9.30. 680,551 shares of the company's stock traded hands, compared to its average volume of 570,683. The company has a 50-day moving average price of $9.31 and a two-hundred day moving average price of $9.09. The company has a current ratio of 1.45, a quick ratio of 0.75 and a debt-to-equity ratio of 0.20. Corsair Gaming, Inc. has a 52 week low of $5.59 and a 52 week high of $13.02.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRSR. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Robert W. Baird set a $10.00 price objective on Corsair Gaming in a research note on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Barclays dropped their price objective on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group dropped their price objective on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Corsair Gaming presently has an average rating of "Moderate Buy" and an average price target of $9.83.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its holdings in shares of Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company's stock worth $45,000 after purchasing an additional 1,120 shares during the period. BNP Paribas bought a new position in shares of Corsair Gaming in the fourth quarter worth $33,000. Quarry LP bought a new position in shares of Corsair Gaming in the fourth quarter worth $34,000. BNP Paribas Financial Markets bought a new position in shares of Corsair Gaming in the fourth quarter worth $56,000. Finally, PNC Financial Services Group Inc. increased its stake in Corsair Gaming by 70.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company's stock valued at $81,000 after acquiring an additional 3,571 shares during the last quarter. Institutional investors own 25.66% of the company's stock.

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.

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