Squarepoint Ops LLC Buys 48,332 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Squarepoint Ops LLC lifted its position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 324.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 63,222 shares of the company's stock after buying an additional 48,332 shares during the quarter. Squarepoint Ops LLC owned about 0.06% of Corsair Gaming worth $418,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CRSR. Quadrant Capital Group LLC raised its holdings 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 acquiring an additional 2,538 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Corsair Gaming by 7.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company's stock worth $257,000 after purchasing an additional 2,789 shares during the period. PNC Financial Services Group Inc. raised its stake 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 purchasing an additional 3,414 shares in the last quarter. BNP Paribas acquired a new position in Corsair Gaming in the fourth quarter valued at about $33,000. Finally, Quarry LP bought a new stake in Corsair Gaming during the fourth quarter worth about $34,000. Institutional investors own 25.66% of the company's stock.

Corsair Gaming Price Performance

Shares of NASDAQ:CRSR traded up $0.33 during trading on Monday, hitting $9.51. 439,321 shares of the company were exchanged, compared to its average volume of 756,825. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The company has a market capitalization of $1.01 billion, a P/E ratio of -10.01 and a beta of 1.77. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $7.57 and its 200-day moving average is $8.49.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $369.75 million during the quarter, compared to the consensus estimate of $366.20 million. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. Corsair Gaming's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. Equities analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Insider Buying and Selling

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the transaction, the chief financial officer now directly owns 125,650 shares in the company, valued at approximately $1,266,552. This represents a 3.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 58.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wedbush reissued an "outperform" rating and issued a $13.00 target price on shares of Corsair Gaming in a report on Monday, May 5th. Wall Street Zen lowered shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Barclays lowered their price objective 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 target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 price target on Corsair Gaming in a report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.00.

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.