Two Sigma Investments LP Buys 43,668 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Two Sigma Investments LP boosted its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 230.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,640 shares of the company’s stock after acquiring an additional 43,668 shares during the quarter. Two Sigma Investments LP owned 0.06% of Corsair Gaming worth $414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vontobel Holding Ltd. increased its stake in shares of Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock worth $463,000 after purchasing an additional 40,015 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Corsair Gaming by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 218,742 shares of the company’s stock worth $1,446,000 after purchasing an additional 7,351 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock worth $4,884,000 after purchasing an additional 212,792 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Corsair Gaming during the 4th quarter worth about $90,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Corsair Gaming by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 397,801 shares of the company’s stock worth $2,629,000 after purchasing an additional 15,067 shares during the last quarter. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Price Performance

CRSR stock opened at $9.51 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92. Corsair Gaming, Inc. has a one year low of $5.60 and a one year high of $13.02. The stock has a market cap of $1.01 billion, a PE ratio of -10.01 and a beta of 1.77. The firm has a 50 day simple moving average of $7.58 and a two-hundred day simple moving average of $8.51.

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 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 period last year, the company posted $0.09 EPS. Corsair Gaming’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRSR has been the topic of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. The Goldman Sachs Group decreased their target price on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Wall Street Zen lowered shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Barclays decreased their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 target price on shares of Corsair Gaming in a research report on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.00.

Insider Buying and Selling at Corsair Gaming

In related news, CFO Michael G. Potter sold 4,124 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 58.38% of the company’s stock.

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.