Vanguard Group Inc. Grows Stake in Corsair Gaming, Inc. $CRSR

Key Points

• Vanguard Group Inc. increased its stake in Corsair Gaming by 5.0%, holding approximately 6.1 million shares valued at $54.06 million.
• Corsair Gaming reported a quarterly revenue of $320.11 million, surpassing analysts' expectations, with earnings per share (EPS) of $0.01.
• Institutional investors now own 25.66% of Corsair Gaming's stock, reflecting increasing interest from various hedge funds.

Vanguard Group Inc. increased its holdings in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 5.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 6,101,154 shares of the company's stock after acquiring an additional 287,795 shares during the period. Vanguard Group Inc. owned approximately 5.77% of Corsair Gaming worth $54,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its position in Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock valued at $3,826,000 after buying an additional 127,948 shares during the period. Palisade Capital Management LP boosted its position in Corsair Gaming by 3.5% in the 1st quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock valued at $21,410,000 after buying an additional 81,376 shares during the period. Point72 Asset Management L.P. purchased a new position in Corsair Gaming in the 4th quarter valued at approximately $329,000. Squarepoint Ops LLC boosted its position in Corsair Gaming by 324.6% in the 4th quarter. Squarepoint Ops LLC now owns 63,222 shares of the company's stock valued at $418,000 after buying an additional 48,332 shares during the period. Finally, Northern Trust Corp boosted its position in Corsair Gaming by 19.5% in the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company's stock valued at $3,243,000 after buying an additional 80,012 shares during the period. Hedge funds and other institutional investors own 25.66% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRSR. Robert W. Baird set a $10.00 price objective on shares of Corsair Gaming in a research report on Wednesday, May 7th. Wedbush restated an "outperform" rating and set a $13.00 price objective on shares of Corsair Gaming in a research report on Monday, May 5th. Barclays upgraded shares of Corsair Gaming to a "strong-buy" rating in a research report on Friday, August 8th. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Finally, The Goldman Sachs Group lowered their target price 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. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Corsair Gaming presently has an average rating of "Moderate Buy" and a consensus price target of $9.83.

Corsair Gaming Price Performance

Shares of Corsair Gaming stock traded up $0.05 during trading on Friday, reaching $8.93. The company's stock had a trading volume of 649,611 shares, compared to its average volume of 733,981. The company has a quick ratio of 0.75, a current ratio of 1.45 and a debt-to-equity ratio of 0.20. Corsair Gaming, Inc. has a 12-month low of $5.59 and a 12-month high of $13.02. The company has a market capitalization of $946.94 million, a P/E ratio of -11.02 and a beta of 1.77. The business has a 50 day moving average price of $9.18 and a 200-day moving average price of $9.04.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, meeting analysts' consensus estimates of $0.01. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%.The firm had revenue of $320.11 million for the quarter, compared to the consensus estimate of $312.38 million. During the same period in the previous year, the business earned ($0.07) earnings per share. The company's revenue for the quarter was up 22.5% compared to the same quarter last year. Corsair Gaming has set its FY 2025 guidance at EPS. As a group, sell-side 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.