Two Sigma Advisers LP purchased a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,500 shares of the company's stock, valued at approximately $202,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Investments LP increased its position in shares of Corsair Gaming by 230.2% in the 4th quarter. Two Sigma Investments LP now owns 62,640 shares of the company's stock worth $414,000 after purchasing an additional 43,668 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in Corsair Gaming during the 4th quarter valued at about $101,000. Point72 Asset Management L.P. acquired a new stake in shares of Corsair Gaming in the 4th quarter worth approximately $329,000. ProShare Advisors LLC acquired a new stake in shares of Corsair Gaming in the 4th quarter worth approximately $89,000. Finally, Deutsche Bank AG lifted its stake in 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 purchasing an additional 17,229 shares during the last quarter. Hedge funds and other institutional investors own 25.66% of the company's stock.
Corsair Gaming Stock Performance
Shares of NASDAQ CRSR traded down $0.09 during trading hours on Wednesday, hitting $9.61. 674,082 shares of the stock were exchanged, compared to its average volume of 760,272. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92. The company's 50 day moving average is $7.68 and its 200 day moving average is $8.52. The firm has a market capitalization of $1.02 billion, a P/E ratio of -10.12 and a beta of 1.77. Corsair Gaming, Inc. has a one year low of $5.60 and a one year high of $13.02.
Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $369.75 million for the quarter, compared to the consensus estimate of $366.20 million. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. Corsair Gaming's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.09 earnings per share. On average, research analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current year.
Insider Buying and Selling
In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 125,650 shares of the company's stock, valued at $1,266,552. This represents a 3.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 58.38% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
CRSR has been the subject of several recent research reports. The Goldman Sachs Group cut 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. Wall Street Zen lowered shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Wedbush restated an "outperform" rating and set a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. Barclays dropped their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.00.
Read Our Latest 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.
See Also
Before you consider Corsair Gaming, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Corsair Gaming wasn't on the list.
While Corsair Gaming currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
