Cubist Systematic Strategies LLC Purchases Shares of 68,510 Corsair Gaming, Inc. (NASDAQ:CRSR)

Cubist Systematic Strategies LLC acquired a new stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CRSR. PNC Financial Services Group Inc. lifted its holdings in Corsair Gaming by 220.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock valued at $33,000 after purchasing an additional 3,414 shares during the last quarter. BNP Paribas purchased a new stake in shares of Corsair Gaming in the fourth quarter worth about $33,000. Quarry LP purchased a new stake in shares of Corsair Gaming in the fourth quarter worth about $34,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Corsair Gaming in the fourth quarter worth about $50,000. Finally, Quadrant Capital Group LLC lifted its holdings in shares of Corsair Gaming by 45.8% in the fourth quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company's stock worth $53,000 after buying an additional 2,538 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corsair Gaming

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the transaction, 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. Company insiders own 58.89% of the company's stock.

Corsair Gaming Price Performance

Shares of CRSR stock traded down $0.05 during trading on Thursday, hitting $8.25. The company had a trading volume of 65,870 shares, compared to its average volume of 740,715. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The stock's 50-day moving average is $7.79 and its two-hundred day moving average is $8.31. The stock has a market capitalization of $873.45 million, a price-to-earnings ratio of -8.68 and a beta of 1.70. Corsair Gaming, Inc. has a 52 week low of $5.60 and a 52 week high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $366.20 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. As a group, analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CRSR shares. Wedbush reissued an "outperform" rating and issued a $13.00 price target on shares of Corsair Gaming in a report on Monday, May 5th. Wall Street Zen downgraded shares of Corsair Gaming from a "buy" rating to a "hold" rating in a report on Thursday. Barclays lowered their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group decreased their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.00.

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.