D. E. Shaw & Co. Inc. Has $2.05 Million Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

D. E. Shaw & Co. Inc. reduced its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 38.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 309,588 shares of the company’s stock after selling 189,618 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.30% of Corsair Gaming worth $2,046,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRSR. PNC Financial Services Group Inc. grew its position in shares of Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock valued at $33,000 after purchasing an additional 3,414 shares during the period. BNP Paribas acquired a new position in shares of Corsair Gaming in the 4th quarter valued at approximately $33,000. Quarry LP acquired a new position in shares of Corsair Gaming in the 4th quarter valued at approximately $34,000. KLP Kapitalforvaltning AS acquired a new position in shares of Corsair Gaming in the 4th quarter valued at approximately $50,000. Finally, Quadrant Capital Group LLC grew its position in shares of Corsair Gaming by 45.8% in the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after purchasing an additional 2,538 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corsair Gaming

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

Analyst Upgrades and Downgrades

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

Corsair Gaming Trading Down 0.9%

Shares of Corsair Gaming stock opened at $8.61 on Wednesday. Corsair Gaming, Inc. has a 12-month low of $5.60 and a 12-month high of $13.02. The stock has a market cap of $911.12 million, a P/E ratio of -9.06 and a beta of 1.70. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $7.83 and its 200-day moving average is $8.31.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $366.20 million. During the same quarter in the prior year, the company earned $0.09 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

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.