Sunriver Management LLC Invests $16.73 Million in Corsair Gaming, Inc. $CRSR

Key Points

• Sunriver Management LLC acquired 1,888,561 shares of Corsair Gaming, valued at approximately $16.73 million, making it the 22nd biggest position in their investment portfolio.
• Corsair Gaming's stock has seen a 7.9% increase, with a market cap of $942.70 million and recent quarterly earnings revealing revenue growth of 22.5% year-over-year.
• Several institutional investors, such as Cerity Partners LLC and GAMMA Investing LLC, have recently boosted their stakes in Corsair Gaming, reflecting a trend of increasing investment interest in the company.

Sunriver Management LLC purchased a new stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,888,561 shares of the company's stock, valued at approximately $16,733,000. Corsair Gaming makes up 2.1% of Sunriver Management LLC's portfolio, making the stock its 22nd largest holding. Sunriver Management LLC owned 1.78% of Corsair Gaming at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC raised its position in Corsair Gaming by 16.4% in the 1st quarter. Cerity Partners LLC now owns 14,333 shares of the company's stock worth $127,000 after buying an additional 2,016 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Corsair Gaming by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company's stock valued at $257,000 after purchasing an additional 2,789 shares in the last quarter. BNP Paribas purchased a new stake in Corsair Gaming during the fourth quarter valued at $33,000. Quarry LP purchased a new position in shares of Corsair Gaming in the 4th quarter worth approximately $34,000. Finally, GAMMA Investing LLC grew its stake in shares of Corsair Gaming by 76.8% during the first quarter. GAMMA Investing LLC now owns 11,874 shares of the company's stock valued at $105,000 after buying an additional 5,158 shares during the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Price Performance

CRSR traded down $0.00 during trading on Friday, reaching $8.88. 207,341 shares of the stock were exchanged, compared to its average volume of 875,710. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.75. The business's 50 day moving average price is $9.18 and its two-hundred day moving average price is $9.05. Corsair Gaming, Inc. has a 1 year low of $5.59 and a 1 year high of $13.02. The company has a market capitalization of $941.18 million, a price-to-earnings ratio of -10.96 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its quarterly 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. The company had revenue of $320.11 million for the quarter, compared to the consensus estimate of $312.38 million. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Analysts Set New Price Targets

CRSR has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Robert W. Baird set a $10.00 target price on shares of Corsair Gaming in a report on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $13.00 price objective on shares of Corsair Gaming in a research report on Monday, May 5th. Barclays upgraded Corsair Gaming to a "strong-buy" rating in a report on Friday, August 8th. Finally, Wall Street Zen raised Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $9.83.

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.