Cubist Systematic Strategies LLC acquired a new position in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 68,510 shares of the company's stock, valued at approximately $453,000. Cubist Systematic Strategies LLC owned about 0.07% of Corsair Gaming at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of CRSR. Barclays PLC boosted its holdings in shares of 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 acquiring an additional 56,841 shares during the last quarter. Vontobel Holding Ltd. raised 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 stake in Corsair Gaming by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock valued at $38,426,000 after buying an additional 148,674 shares in the last quarter. Bank of Montreal Can acquired a new stake in Corsair Gaming in the 4th quarter worth about $912,000. Finally, Invesco Ltd. boosted its holdings in Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock worth $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.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, May 7th. Barclays dropped their price target 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, May 8th. 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. Finally, 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 research note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Corsair Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.
View Our Latest Analysis on Corsair Gaming
Insider Activity at Corsair Gaming
In related news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the transaction, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 58.89% of the company's stock.
Corsair Gaming Stock Down 3.8%
CRSR traded down $0.33 during trading hours on Wednesday, reaching $8.29. 381,112 shares of the stock traded hands, compared to its average volume of 1,088,515. Corsair Gaming, Inc. has a fifty-two week low of $5.59 and a fifty-two week high of $13.02. The company has a market cap of $876.73 million, a price-to-earnings ratio of -8.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92. The firm's fifty day simple moving average is $7.83 and its two-hundred day simple moving average is $8.31.
Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. During the same quarter last year, the company posted $0.09 earnings per share. The business's quarterly revenue was up 9.6% compared to the same quarter last year. As a group, analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.
Corsair Gaming Profile
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Free Report)
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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