Two Sigma Advisers LP Invests $202,000 in Corsair Gaming, Inc. (NASDAQ:CRSR)

Two Sigma Advisers LP bought 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 Form 13F filing with the SEC. The firm bought 30,500 shares of the company's stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CRSR. Vontobel Holding Ltd. raised its position in shares of Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company's stock worth $463,000 after acquiring an additional 40,015 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Corsair Gaming by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 218,742 shares of the company's stock worth $1,446,000 after acquiring an additional 7,351 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock worth $4,884,000 after acquiring an additional 212,792 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Corsair Gaming during the 4th quarter worth about $90,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Corsair Gaming by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,801 shares of the company's stock worth $2,629,000 after acquiring an additional 15,067 shares in the last quarter. Institutional investors and hedge funds own 25.66% of the company's stock.

Insider Activity

In related news, CFO Michael G. Potter sold 4,124 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was 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 of the company's stock, valued at $1,266,552. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 58.38% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Barclays cut their target price on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Wedbush reaffirmed an "outperform" rating and set a $13.00 price target on shares of Corsair Gaming in a research report on Monday, May 5th. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research report on Wednesday, May 7th. The Goldman Sachs Group lowered their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded shares of Corsair Gaming from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

Corsair Gaming Trading Up 1.4%

NASDAQ:CRSR opened at $9.18 on Friday. The firm has a market cap of $971.44 million, a P/E ratio of -9.66 and a beta of 1.77. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The stock's 50 day simple moving average is $7.57 and its 200-day simple moving average is $8.48. Corsair Gaming, Inc. has a 12-month low of $5.60 and a 12-month high of $13.02.

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

About Corsair Gaming

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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