Point72 Asset Management L.P. purchased a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 49,763 shares of the company's stock, valued at approximately $329,000.
Other large investors have also modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock valued at $33,000 after buying an additional 3,414 shares during the last quarter. BNP Paribas acquired a new position in shares of Corsair Gaming during the 4th quarter worth approximately $33,000. Quarry LP acquired a new position in shares of Corsair Gaming during the 4th quarter worth approximately $34,000. KLP Kapitalforvaltning AS acquired a new position in shares of Corsair Gaming during the 4th quarter worth approximately $50,000. Finally, Quadrant Capital Group LLC raised its stake in Corsair Gaming by 45.8% in the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company's stock valued at $53,000 after purchasing an additional 2,538 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company's stock.
Corsair Gaming Trading Up 9.4%
Shares of NASDAQ CRSR traded up $0.77 during mid-day trading on Tuesday, reaching $9.00. 757,646 shares of the company's stock were exchanged, compared to its average volume of 747,390. The company's 50-day moving average is $7.67 and its 200-day moving average is $8.36. Corsair Gaming, Inc. has a 52-week low of $5.60 and a 52-week high of $13.02. The firm has a market capitalization of $952.39 million, a price-to-earnings ratio of -9.47 and a beta of 1.70. 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 announced its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). The firm had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 earnings per share. Analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.
Insider Buying and Selling at Corsair Gaming
In other news, CFO Michael G. Potter sold 4,124 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the sale, the chief financial officer now owns 125,650 shares of the company's stock, valued at approximately $1,266,552. This trade represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 58.89% of the stock is owned by corporate insiders.
Analyst Ratings Changes
CRSR has been the subject of several recent research reports. Wedbush reissued an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Wall Street Zen cut Corsair Gaming from a "buy" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays dropped their target price on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 target price on Corsair Gaming in a report on Wednesday, May 7th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Corsair Gaming has a consensus rating of "Moderate Buy" and an average price target of $10.00.
Check Out Our Latest Stock Analysis on CRSR
About Corsair Gaming
(
Free Report)
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.
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