Barclays PLC Increases Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Barclays PLC lifted its position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 10.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,099 shares of the company’s stock after purchasing an additional 8,166 shares during the period. Barclays PLC owned about 0.08% of Corsair Gaming worth $575,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRSR. New York State Common Retirement Fund grew its position in shares of Corsair Gaming by 40.4% during the fourth 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 during the last quarter. Vanguard Group Inc. boosted its stake in shares of Corsair Gaming by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock worth $38,426,000 after buying an additional 148,674 shares during the period. Bank of Montreal Can acquired a new position in Corsair Gaming in the 4th quarter valued at about $912,000. Invesco Ltd. raised its stake in Corsair Gaming by 28.4% during the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company’s stock valued at $3,826,000 after acquiring an additional 127,948 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in Corsair Gaming by 1,051.0% during the 4th quarter. Intech Investment Management LLC now owns 127,647 shares of the company’s stock worth $844,000 after acquiring an additional 116,557 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

Insider Buying and Selling at Corsair Gaming

In other news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the transaction, the chief financial officer now directly owns 125,650 shares of the company’s stock, valued at $1,266,552. The trade was a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 58.89% of the stock is owned by company insiders.

Corsair Gaming Trading Up 8.5 %

NASDAQ CRSR opened at $7.44 on Friday. The company has a market cap of $787.72 million, a P/E ratio of -7.84 and a beta of 1.70. Corsair Gaming, Inc. has a 12 month low of $5.60 and a 12 month high of $13.02. 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 has a 50-day moving average of $8.23 and a 200-day moving average of $8.19.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share 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 firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.09 EPS. As a group, equities analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRSR. The Goldman Sachs Group reduced 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. Wedbush reiterated an “outperform” rating and set a $13.00 target price on shares of Corsair Gaming in a research report on Monday. Robert W. Baird set a $10.00 target price on Corsair Gaming in a report on Wednesday. Finally, Barclays reduced 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 note on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Corsair Gaming 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.