Balyasny Asset Management L.P. Buys Shares of 30,250 Corsair Gaming, Inc. (NASDAQ:CRSR)

Balyasny Asset Management L.P. bought a new stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,250 shares of the company's stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alyeska Investment Group L.P. acquired a new stake in shares of Corsair Gaming in the 4th quarter worth $1,503,000. New York State Common Retirement Fund lifted its stake in shares of Corsair Gaming by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock worth $4,884,000 after acquiring an additional 212,792 shares during the period. Vanguard Group Inc. lifted its stake in shares of Corsair Gaming by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock worth $38,426,000 after acquiring an additional 148,674 shares during the period. Bank of Montreal Can acquired a new stake in shares of Corsair Gaming in the 4th quarter worth $912,000. Finally, Invesco Ltd. lifted its stake in shares of Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock worth $3,826,000 after acquiring an additional 127,948 shares during the period. Hedge funds and other institutional investors own 25.66% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CRSR. Robert W. Baird set a $10.00 target price on shares of Corsair Gaming in a research note on Wednesday, May 7th. Wall Street Zen cut shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research note on Thursday. Wedbush reiterated an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Barclays reduced their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.00.

Insider Transactions at Corsair Gaming

In other news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the sale, the chief financial officer now directly owns 125,650 shares in the company, valued at $1,266,552. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 58.89% of the company's stock.

Corsair Gaming Price Performance

NASDAQ:CRSR traded down $0.09 during mid-day trading on Friday, hitting $8.23. 641,168 shares of the company's stock traded hands, compared to its average volume of 747,349. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57. The firm's 50 day simple moving average is $7.71 and its 200 day simple moving average is $8.33. Corsair Gaming, Inc. has a 1 year low of $5.60 and a 1 year high of $13.02. The company has a market cap of $870.91 million, a PE ratio of -8.66 and a beta of 1.70.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. During the same quarter last year, the business posted $0.09 earnings per share. The business's revenue was up 9.6% compared to the same quarter last year. Sell-side analysts expect that Corsair Gaming, Inc. will post 0.22 EPS 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.