Massachusetts Financial Services Co. MA Raises Stock Holdings in Corsair Gaming, Inc. $CRSR

Key Points

• Massachusetts Financial Services Co. boosted its stake in Corsair Gaming by 15.2% in Q4 to 3,042,943 shares (about 2.86% of the company), valued at roughly $18.1 million.
• Corsair beat earnings expectations with Q results of $0.43 EPS vs. $0.26 expected and revenue of $436.9M (up 5.6% year-over-year), though the company still reported a negative net margin (-0.87%).
• Analysts are mixed: the consensus rating is "Hold" with a consensus target price of $7.71, while individual ratings range from sell to strong-buy.

Massachusetts Financial Services Co. MA grew its stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,042,943 shares of the company's stock after acquiring an additional 401,171 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.86% of Corsair Gaming worth $18,075,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. State of Alaska Department of Revenue lifted its position in shares of Corsair Gaming by 5.1% in the third quarter. State of Alaska Department of Revenue now owns 28,459 shares of the company's stock valued at $253,000 after acquiring an additional 1,380 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Corsair Gaming by 24.7% in the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company's stock valued at $74,000 after acquiring an additional 1,551 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Corsair Gaming by 1.3% in the second quarter. Legal & General Group Plc now owns 122,484 shares of the company's stock valued at $1,155,000 after acquiring an additional 1,592 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Corsair Gaming by 4.9% in the second quarter. Prudential Financial Inc. now owns 47,932 shares of the company's stock valued at $452,000 after acquiring an additional 2,246 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Corsair Gaming by 15.8% in the second quarter. JPMorgan Chase & Co. now owns 25,289 shares of the company's stock valued at $238,000 after acquiring an additional 3,454 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on CRSR. Zacks Research downgraded Corsair Gaming from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Corsair Gaming in a research report on Monday, December 29th. Barclays reduced their target price on Corsair Gaming from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, February 13th. Craig Hallum reiterated a "buy" rating and set a $8.00 target price on shares of Corsair Gaming in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded shares of Corsair Gaming from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $7.71.

Corsair Gaming Price Performance

Corsair Gaming stock opened at $6.39 on Friday. Corsair Gaming, Inc. has a 1 year low of $4.48 and a 1 year high of $10.29. The firm has a 50 day moving average price of $5.63 and a 200 day moving average price of $6.24. The company has a market cap of $681.56 million, a price-to-earnings ratio of -49.15 and a beta of 1.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.54.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.17. The firm had revenue of $436.86 million during the quarter, compared to the consensus estimate of $422.66 million. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. Corsair Gaming's revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Sell-side analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company's solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.

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