Price T Rowe Associates Inc. MD Raises Stock Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Price T Rowe Associates Inc. MD grew its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,745 shares of the company’s stock after buying an additional 2,789 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Corsair Gaming were worth $257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. New York State Common Retirement Fund lifted its holdings in shares of Corsair Gaming by 40.4% in 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 during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Corsair Gaming by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock worth $38,426,000 after acquiring an additional 148,674 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Corsair Gaming in the 4th quarter worth approximately $912,000. Invesco Ltd. lifted its holdings in shares of Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company’s stock worth $3,826,000 after acquiring an additional 127,948 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in shares of Corsair Gaming by 1,051.0% in 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 last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Insider Buying and Selling

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the transaction, the chief financial officer now owns 125,650 shares of the company’s stock, valued at approximately $1,266,552. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 58.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRSR. Wedbush restated an “outperform” rating and issued a $13.00 price objective on shares of Corsair Gaming in a report on Monday, May 5th. Barclays lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. The Goldman Sachs Group dropped their price target on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 price objective on shares of Corsair Gaming in a research report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Corsair Gaming has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Corsair Gaming Stock Performance

Shares of NASDAQ:CRSR opened at $8.46 on Friday. The company has a market cap of $895.25 million, a price-to-earnings ratio of -8.91 and a beta of 1.70. The company has a 50-day moving average price of $7.90 and a 200-day moving average price of $8.27. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. Corsair Gaming, Inc. has a 12 month low of $5.60 and a 12 month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly 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). Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. The company had revenue of $369.75 million during the quarter, compared to the consensus estimate of $366.20 million. During the same period in the previous year, the company earned $0.09 earnings per share. Corsair Gaming’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities 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.