Alyeska Investment Group L.P. Has $8.11 Million Holdings in 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. boosted its stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 302.3% in the first quarter, according to the company in 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 approximately 0.86% of Corsair Gaming worth $8,106,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC bought a new stake in Corsair Gaming in the first quarter worth $7,772,000. Landscape Capital Management L.L.C. boosted its holdings in Corsair Gaming by 62.6% in the first quarter. Landscape Capital Management L.L.C. now owns 234,215 shares of the company's stock worth $2,075,000 after purchasing an additional 90,147 shares in the last quarter. PEAK6 LLC boosted its holdings in Corsair Gaming by 231.3% in the first quarter. PEAK6 LLC now owns 52,193 shares of the company's stock worth $462,000 after purchasing an additional 91,949 shares in the last quarter. Ieq Capital LLC boosted its holdings in Corsair Gaming by 95.0% in the first quarter. Ieq Capital LLC now owns 22,575 shares of the company's stock worth $200,000 after purchasing an additional 10,997 shares in the last quarter. Finally, Sunriver Management LLC bought a new stake in Corsair Gaming in the first quarter worth $16,733,000. Hedge funds and other institutional investors own 25.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a 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 equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $9.83.

Corsair Gaming Price Performance

Shares of NASDAQ CRSR traded up $0.06 during trading on Monday, reaching $8.90. The company had a trading volume of 682,058 shares, compared to its average volume of 656,734. Corsair Gaming, Inc. has a 52 week low of $5.59 and a 52 week high of $13.02. The stock has a market cap of $943.76 million, a PE ratio of -10.99 and a beta of 1.77. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.75 and a current ratio of 1.45. The business's 50 day moving average price is $9.11 and its 200-day moving average price is $8.86.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly 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 business had revenue of $320.11 million during 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%. Corsair Gaming's revenue for the quarter was up 22.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. Corsair Gaming has set its FY 2025 guidance at EPS. Analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current 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.