Corsair Gaming, Inc. $CRSR Shares Purchased by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. significantly increased its holdings in Corsair Gaming, Inc. by 83.3%, owning 449,779 shares valued at approximately $3.98 million.
• Investment firm Palisade Capital Management LP and other institutional investors have also raised their stakes in Corsair Gaming, leading to a total of 25.66% institutional ownership of the stock.
• Research firms have elevated Corsair Gaming's rating, with Barclays upgrading it to a "strong-buy" and the average target price set at $9.83, reflecting positive market sentiment.

Goldman Sachs Group Inc. grew its position in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 83.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 449,779 shares of the company's stock after buying an additional 204,351 shares during the quarter. Goldman Sachs Group Inc. owned 0.43% of Corsair Gaming worth $3,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRSR. Northern Trust Corp lifted its holdings in Corsair Gaming by 19.5% during the fourth quarter. Northern Trust Corp now owns 490,622 shares of the company's stock worth $3,243,000 after buying an additional 80,012 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Corsair Gaming in the 4th quarter valued at about $56,000. Deutsche Bank AG lifted its position in Corsair Gaming by 105.6% during the fourth quarter. Deutsche Bank AG now owns 33,540 shares of the company's stock valued at $222,000 after acquiring an additional 17,229 shares during the last quarter. ProShare Advisors LLC purchased a new position in Corsair Gaming during the 4th quarter worth $89,000. Finally, Point72 Asset Management L.P. acquired a new stake in Corsair Gaming in the fourth quarter worth about $329,000. 25.66% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Corsair Gaming Price Performance

Shares of NASDAQ CRSR traded up $0.18 during trading on Thursday, hitting $8.69. The company had a trading volume of 578,847 shares, compared to its average volume of 644,993. The stock has a fifty day simple moving average of $8.98 and a two-hundred day simple moving average of $8.75. Corsair Gaming, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $13.02. The firm has a market capitalization of $921.49 million, a price-to-earnings ratio of -10.73 and a beta of 1.77. 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 (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share 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 for the quarter, compared to analyst estimates of $312.38 million. During the same period last year, the company posted ($0.07) EPS. Corsair Gaming's quarterly revenue was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. On average, research 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.