Alyeska Investment Group L.P. Buys 687,477 Shares of Corsair Gaming, Inc. $CRSR

Key Points

• Alyeska Investment Group L.P. increased its stake in Corsair Gaming, Inc. by 302.3%, now owning 914,879 shares worth approximately $8.1 million.
• Corsair Gaming reported a year-over-year revenue increase of 22.5%, with quarterly earnings per share (EPS) meeting the consensus estimate of $0.01.
• Analysts have upgraded Corsair Gaming's stock rating to "buy" and "strong-buy", with a consensus target price of $9.83.

Alyeska Investment Group L.P. raised its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 302.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 914,879 shares of the company's stock after buying an additional 687,477 shares during the quarter. Alyeska Investment Group L.P. owned about 0.86% of Corsair Gaming worth $8,106,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Sunriver Management LLC purchased a new position in shares of Corsair Gaming during the 1st quarter valued at $16,733,000. Driehaus Capital Management LLC bought a new stake in Corsair Gaming during the first quarter valued at $7,772,000. Vanguard Group Inc. boosted its stake in Corsair Gaming by 5.0% during the first quarter. Vanguard Group Inc. now owns 6,101,154 shares of the company's stock valued at $54,056,000 after buying an additional 287,795 shares during the period. GAMMA Investing LLC grew its position in Corsair Gaming by 1,466.5% during the first quarter. GAMMA Investing LLC now owns 105,204 shares of the company's stock worth $932,000 after buying an additional 98,488 shares in the last quarter. Finally, PEAK6 LLC raised its holdings in shares of Corsair Gaming by 231.3% in the 1st quarter. PEAK6 LLC now owns 52,193 shares of the company's stock valued at $462,000 after acquiring an additional 91,949 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $9.83.

Corsair Gaming Trading Up 3.9%

Corsair Gaming stock traded up $0.34 during trading hours on Thursday, reaching $9.10. The stock had a trading volume of 853,985 shares, compared to its average volume of 630,788. The company has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $8.84. Corsair Gaming, Inc. has a 52 week low of $5.64 and a 52 week high of $13.02. The stock has a market cap of $964.96 million, a PE ratio of -11.23 and a beta of 1.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.75.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, hitting analysts' consensus estimates of $0.01. The company had revenue of $320.11 million during the quarter, compared to analyst estimates of $312.38 million. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. Corsair Gaming's revenue for the quarter was up 22.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) earnings per share. Corsair Gaming has set its FY 2025 guidance at EPS. Analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Corsair Gaming 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.