Corsair Gaming, Inc. (NASDAQ:CRSR) Shares Purchased by Northern Trust Corp

Northern Trust Corp increased its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 490,622 shares of the company’s stock after acquiring an additional 80,012 shares during the period. Northern Trust Corp owned about 0.47% of Corsair Gaming worth $3,243,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its holdings in Corsair Gaming by 220.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock worth $33,000 after acquiring an additional 3,414 shares during the period. Quarry LP acquired a new stake in Corsair Gaming during the fourth quarter worth about $34,000. KLP Kapitalforvaltning AS acquired a new stake in Corsair Gaming during the fourth quarter worth about $50,000. Quadrant Capital Group LLC grew its holdings in Corsair Gaming by 45.8% during the fourth quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock worth $53,000 after acquiring an additional 2,538 shares during the period. Finally, Magnetar Financial LLC acquired a new stake in Corsair Gaming during the fourth quarter worth about $67,000. 25.66% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Corsair Gaming

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the sale, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 58.89% of the company’s stock.

Corsair Gaming Stock Performance

Shares of Corsair Gaming stock opened at $8.23 on Friday. Corsair Gaming, Inc. has a one year low of $5.60 and a one year high of $13.02. The company has a market cap of $870.91 million, a price-to-earnings ratio of -8.66 and a beta of 1.70. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57. The business’s 50 day moving average price is $7.71 and its 200 day moving average price is $8.33.

Corsair Gaming (NASDAQ:CRSR) last posted 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). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business had revenue of $369.75 million during the quarter, compared to analysts’ expectations of $366.20 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Corsair Gaming’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, research analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on CRSR shares. Barclays dropped their price objective on Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Corsair Gaming in a research report on Monday, May 5th. The Goldman Sachs Group decreased their target price on Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Robert W. Baird set a $10.00 target price on Corsair Gaming in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Thursday. Four 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.