376,245 Shares of Corsair Gaming, Inc. $CRSR Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 376,245 Corsair Gaming shares in the second quarter, worth approximately $3.64 million and representing about 0.35% of the company. Institutional investors collectively own 25.66% of CRSR.
• Corsair reported quarterly EPS of $0.23, beating the $0.07 analyst consensus, while revenue of $314.33 million modestly exceeded estimates but declined 1.8% year over year.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $12.00, although ratings range from Goldman Sachs’ “sell” to price targets as high as $16.00.

Bank of America Corp DE bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 376,245 shares of the company's stock, valued at approximately $3,638,000. Bank of America Corp DE owned approximately 0.35% of Corsair Gaming as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in Corsair Gaming during the 2nd quarter worth $56,000. Allworth Financial LP purchased a new position in Corsair Gaming in the second quarter valued at about $62,000. Meeder Asset Management Inc. purchased a new position in Corsair Gaming in the second quarter valued at about $69,000. Cetera Investment Advisers acquired a new position in shares of Corsair Gaming during the first quarter worth about $56,000. Finally, Vise Technologies Inc. acquired a new position in shares of Corsair Gaming during the second quarter worth about $101,000. Hedge funds and other institutional investors own 25.66% of the company's stock.

Corsair Gaming Price Performance

Shares of NASDAQ CRSR opened at $13.46 on Wednesday. Corsair Gaming, Inc. has a fifty-two week low of $4.48 and a fifty-two week high of $14.98. The business has a 50 day moving average price of $12.19 and a two-hundred day moving average price of $9.26. The company has a quick ratio of 1.04, a current ratio of 1.75 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.46 billion, a PE ratio of 44.87 and a beta of 1.88.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.07 by $0.16. Corsair Gaming had a net margin of 2.36% and a return on equity of 13.10%. The business had revenue of $314.33 million during the quarter, compared to analyst estimates of $310.47 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business's revenue was down 1.8% compared to the same quarter last year. Corsair Gaming has set its FY 2026 guidance at 0.850-0.940 EPS and its Q3 2026 guidance at 0.090-0.120 EPS. Sell-side analysts expect that Corsair Gaming, Inc. will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRSR has been the topic of several recent research reports. Weiss Ratings raised Corsair Gaming from a "sell (d)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Zacks Research raised shares of Corsair Gaming from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Barclays lifted their price objective on shares of Corsair Gaming from $9.00 to $15.00 and gave the company an "overweight" rating in a research note on Monday, August 10th. Roth Capital reissued a "buy" rating and set a $16.00 target price on shares of Corsair Gaming in a research report on Friday, August 7th. Finally, The Goldman Sachs Group downgraded shares of Corsair Gaming from a "neutral" rating to a "sell" rating and set a $11.00 target price for the company. in a research note on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Corsair Gaming presently has a consensus rating of "Moderate Buy" and an average target price of $12.00.

About Corsair Gaming

Corsair Gaming, Inc develops and sells hardware, peripherals, and accessories for gamers, content creators, and PC enthusiasts. Its product portfolio includes computer components such as memory, power supplies, cooling systems, storage products, and PC cases, as well as gaming keyboards, mice, headsets, controllers, and other accessories.

The company also provides products and software for streaming and content creation through its Elgato brand, including capture devices, lighting, microphones, control interfaces, and related tools.

Want to see what other hedge funds are holding CRSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.