Invesco Ltd. Sells 107,440 Shares of Corsair Gaming, Inc. $CRSR

Key Points

• Invesco Ltd. has reduced its stake in Corsair Gaming by 18.6%, owning 471,309 shares valued at approximately $4.18 million after selling 107,440 shares in the 1st quarter.
• Corsair Gaming reported $0.01 earnings per share for the most recent quarter, meeting analysts' expectations, while revenue increased by 22.5% year-over-year to $320.11 million.
• Research analysts have mixed ratings on Corsair Gaming, with a consensus rating of "Moderate Buy" and a price target of $9.83, while Barclays recently upgraded the stock to a "strong-buy" rating.

Invesco Ltd. cut its stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 18.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 471,309 shares of the company's stock after selling 107,440 shares during the period. Invesco Ltd. owned 0.45% of Corsair Gaming worth $4,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Corsair Gaming by 9.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 437,327 shares of the company's stock worth $3,875,000 after acquiring an additional 39,526 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Corsair Gaming by 5.0% in the first quarter. Vanguard Group Inc. now owns 6,101,154 shares of the company's stock worth $54,056,000 after acquiring an additional 287,795 shares during the last quarter. XTX Topco Ltd raised its stake in shares of Corsair Gaming by 147.7% in the first quarter. XTX Topco Ltd now owns 52,442 shares of the company's stock worth $465,000 after acquiring an additional 31,271 shares during the last quarter. Corton Capital Inc. bought a new position in shares of Corsair Gaming in the first quarter worth about $118,000. Finally, CWM LLC raised its stake in shares of Corsair Gaming by 206.3% in the first quarter. CWM LLC now owns 11,471 shares of the company's stock worth $102,000 after acquiring an additional 7,726 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price 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. Barclays raised shares of Corsair Gaming to a "strong-buy" rating in a research note on Friday, August 8th. Wedbush reissued an "outperform" rating and set a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research note on Wednesday, May 7th. Finally, Wall Street Zen raised 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 given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corsair Gaming has a consensus rating of "Moderate Buy" and a consensus price target of $9.83.

Corsair Gaming Stock Down 3.1%

CRSR traded down $0.28 during trading hours on Tuesday, hitting $8.66. 278,527 shares of the company's stock were exchanged, compared to its average volume of 874,586. Corsair Gaming, Inc. has a 1-year low of $5.59 and a 1-year high of $13.02. The stock's 50-day moving average is $9.17 and its two-hundred day moving average is $8.99. The stock has a market cap of $917.78 million, a price-to-earnings ratio of -10.69 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 announced its earnings results on Thursday, August 7th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The business had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm's revenue was up 22.5% on a year-over-year basis. Corsair Gaming has set its FY 2025 guidance at EPS. Sell-side 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.