Driehaus Capital Management LLC Buys New Stake in Corsair Gaming, Inc. $CRSR

Key Points

• Driehaus Capital Management LLC has acquired a new position in Corsair Gaming, purchasing 877,183 shares valued at approximately $7.77 million, representing 0.83% ownership of the company.
• Corsair Gaming reported a quarterly revenue of $320.11 million, exceeding analysts' expectations, and recorded a 22.5% increase compared to the same quarter last year.
• Several brokerages have upgraded Corsair Gaming's stock ratings, with Wall Street Zen raising it from "hold" to "buy", indicating increased investor confidence in the company.

Driehaus Capital Management LLC bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 877,183 shares of the company's stock, valued at approximately $7,772,000. Driehaus Capital Management LLC owned approximately 0.83% of Corsair Gaming as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Cerity Partners LLC raised its position in shares of Corsair Gaming by 16.4% during the first quarter. Cerity Partners LLC now owns 14,333 shares of the company's stock worth $127,000 after purchasing an additional 2,016 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Corsair Gaming by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company's stock worth $257,000 after buying an additional 2,789 shares during the period. BNP Paribas purchased a new stake in Corsair Gaming during the fourth quarter valued at about $33,000. Quarry LP acquired a new position in shares of Corsair Gaming in the fourth quarter worth about $34,000. Finally, GAMMA Investing LLC raised its holdings in shares of Corsair Gaming by 76.8% during the first quarter. GAMMA Investing LLC now owns 11,874 shares of the company's stock valued at $105,000 after acquiring an additional 5,158 shares during the period. Institutional investors and hedge funds own 25.66% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CRSR shares. Robert W. Baird set a $10.00 price objective on shares of Corsair Gaming in a research note on Wednesday, May 7th. Barclays raised Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Finally, The Goldman Sachs Group reduced their price objective on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. One investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $9.83.

Corsair Gaming Stock Up 1.3%

Shares of NASDAQ:CRSR traded up $0.12 during midday trading on Thursday, hitting $8.84. 325,089 shares of the stock were exchanged, compared to its average volume of 871,369. The company has a market capitalization of $937.05 million, a PE ratio of -10.89 and a beta of 1.77. Corsair Gaming, Inc. has a 52-week low of $5.59 and a 52-week high of $13.02. 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 fifty day simple moving average is $9.15 and its two-hundred day simple moving average is $8.98.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted 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. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The firm had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. During the same period in the previous year, the company earned ($0.07) earnings per share. The company's revenue was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, research analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share 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.