Balyasny Asset Management L.P. Acquires New Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Balyasny Asset Management L.P. bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 30,250 shares of the company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas purchased a new stake in shares of Corsair Gaming in the fourth quarter valued at approximately $33,000. BNP Paribas Financial Markets acquired a new stake in Corsair Gaming in the fourth quarter valued at $56,000. Alyeska Investment Group L.P. purchased a new stake in shares of Corsair Gaming during the 4th quarter worth $1,503,000. Northern Trust Corp boosted its position in shares of Corsair Gaming by 19.5% during the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company’s stock worth $3,243,000 after purchasing an additional 80,012 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Corsair Gaming during the 4th quarter worth $34,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Stock Down 0.9%

CRSR stock opened at $8.46 on Monday. 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’s 50 day simple moving average is $7.90 and its 200-day simple moving average is $8.29. Corsair Gaming, Inc. has a 12 month low of $5.60 and a 12 month high of $13.02. The firm has a market capitalization of $895.25 million, a PE ratio of -8.91 and a beta of 1.70.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). The company had revenue of $369.75 million for 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%. Corsair Gaming’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 EPS. Equities analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSR has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Corsair Gaming in a report on Monday, May 5th. Barclays dropped their target price 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 decreased their price target on Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 price objective on Corsair Gaming in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.00.

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 dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the sale, the chief financial officer now directly owns 125,650 shares of the company’s stock, valued at $1,266,552. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 58.89% of the stock is currently owned by company insiders.

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.