Samuel R. Szteinbaum Acquires 80,000 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR) Stock

Corsair Gaming, Inc. (NASDAQ:CRSRGet Rating) Director Samuel R. Szteinbaum bought 80,000 shares of Corsair Gaming stock in a transaction that occurred on Wednesday, May 11th. The shares were acquired at an average cost of $14.29 per share, for a total transaction of $1,143,200.00. Following the completion of the transaction, the director now directly owns 237,269 shares in the company, valued at $3,390,574.01. The transaction was disclosed in a filing with the SEC, which is available at this link.

Shares of CRSR opened at $15.30 on Friday. Corsair Gaming, Inc. has a 52 week low of $13.04 and a 52 week high of $42.97. The company has a quick ratio of 0.85, a current ratio of 1.63 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 30.60 and a beta of 1.70. The stock’s 50-day moving average price is $18.86 and its 200-day moving average price is $21.01.

Corsair Gaming (NASDAQ:CRSRGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. Corsair Gaming had a return on equity of 14.71% and a net margin of 2.80%. The firm had revenue of $380.69 million for the quarter, compared to the consensus estimate of $390.60 million. During the same quarter in the prior year, the business earned $0.56 earnings per share. The company’s revenue was down 28.1% compared to the same quarter last year. As a group, equities analysts anticipate that Corsair Gaming, Inc. will post 1.06 EPS for the current fiscal year.

CRSR has been the topic of several recent analyst reports. Barclays reduced their target price on Corsair Gaming from $34.00 to $31.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 9th. Zacks Investment Research downgraded Corsair Gaming from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 26th. Stifel Nicolaus dropped their price target on Corsair Gaming from $29.00 to $24.00 in a research note on Friday, April 22nd. Macquarie dropped their price target on Corsair Gaming from $33.00 to $27.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 9th. Finally, DA Davidson dropped their price target on Corsair Gaming from $36.00 to $30.00 in a research note on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corsair Gaming has an average rating of “Hold” and an average target price of $26.67.

A number of hedge funds have recently modified their holdings of CRSR. BlackRock Inc. boosted its position in Corsair Gaming by 156.5% during the first quarter. BlackRock Inc. now owns 4,717,854 shares of the company’s stock worth $99,829,000 after purchasing an additional 2,878,715 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Corsair Gaming during the first quarter worth approximately $32,586,000. Millennium Management LLC boosted its position in Corsair Gaming by 1,949.0% during the third quarter. Millennium Management LLC now owns 732,748 shares of the company’s stock worth $19,000,000 after purchasing an additional 696,987 shares in the last quarter. Vanguard Group Inc. boosted its position in Corsair Gaming by 21.1% during the first quarter. Vanguard Group Inc. now owns 3,977,924 shares of the company’s stock worth $84,173,000 after purchasing an additional 692,493 shares in the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new position in Corsair Gaming during the first quarter worth approximately $10,064,000. Institutional investors own 14.77% of the company’s stock.

Corsair Gaming Company Profile (Get Rating)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

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