Point72 Asset Management L.P. Buys New Shares in Corsair Gaming, Inc. (NASDAQ:CRSR)

Point72 Asset Management L.P. bought a new stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 49,763 shares of the company's stock, valued at approximately $329,000.

Several other large investors have also recently made changes to their positions in the business. ProShare Advisors LLC purchased a new position in shares of Corsair Gaming during the fourth quarter valued at approximately $89,000. Deutsche Bank AG increased its position in shares of 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Corsair Gaming during the fourth quarter valued at approximately $453,000. Balyasny Asset Management L.P. bought a new stake in shares of Corsair Gaming during the fourth quarter valued at approximately $200,000. Finally, BNP Paribas bought a new stake in shares of Corsair Gaming during the fourth quarter valued at approximately $33,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRSR has been the subject of several analyst reports. Barclays reduced their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group reduced their price target on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Wall Street Zen downgraded shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research report on Wednesday, May 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Corsair Gaming in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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 on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the transaction, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. This trade represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 58.89% of the company's stock.

Corsair Gaming Stock Performance

Shares of Corsair Gaming stock traded down $0.04 on Thursday, hitting $8.93. 136,589 shares of the company's stock were exchanged, compared to its average volume of 745,560. The company has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $8.37. The stock has a market capitalization of $944.98 million, a PE ratio of -9.40 and a beta of 1.70. Corsair Gaming, Inc. has a 1 year low of $5.60 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly 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). The business had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. The company's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 EPS. As a group, equities analysts anticipate 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.