American Century Companies Inc. Acquires Shares of 39,943 Corsair Gaming, Inc. $CRSR

Key Points

• American Century Companies Inc. has made a new investment in Corsair Gaming, Inc., acquiring 39,943 shares valued at approximately $354,000.
• Several institutional investors, including Price T Rowe Associates and Northern Trust Corp, have increased their stakes in Corsair Gaming, indicating growing interest in the company.
• Analysts have given Corsair Gaming a consensus rating of "Moderate Buy" with an average target price of $9.83, following upgrades from firms like Barclays.

American Century Companies Inc. acquired a new position in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,943 shares of the company's stock, valued at approximately $354,000.

Several other institutional investors have also recently made changes to their positions in the company. Palisade Capital Management LP raised its holdings in shares of Corsair Gaming by 3.5% in the 1st quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock valued at $21,410,000 after purchasing an additional 81,376 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Corsair Gaming in the fourth quarter worth about $329,000. Squarepoint Ops LLC raised its stake in shares of Corsair Gaming by 324.6% in the 4th quarter. Squarepoint Ops LLC now owns 63,222 shares of the company's stock valued at $418,000 after acquiring an additional 48,332 shares during the period. Northern Trust Corp raised its stake in shares of Corsair Gaming by 19.5% in the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company's stock valued at $3,243,000 after acquiring an additional 80,012 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Corsair Gaming during the fourth quarter worth about $200,000. Institutional investors own 25.66% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRSR. Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research note on Friday, August 8th. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Corsair Gaming presently has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Corsair Gaming Stock Performance

Corsair Gaming stock traded up $0.05 on Wednesday, hitting $8.82. The company's stock had a trading volume of 183,326 shares, compared to its average volume of 864,763. The company has a fifty day moving average price of $9.10 and a 200-day moving average price of $8.86. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Corsair Gaming, Inc. has a one year low of $5.59 and a one year high of $13.02. The firm has a market cap of $934.72 million, a P/E ratio of -10.89 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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 was up 22.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.07) EPS. Corsair Gaming has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

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.