Corsair Gaming, Inc. (NASDAQ:CRSR) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 1,466.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,204 shares of the company’s stock after acquiring an additional 98,488 shares during the quarter. GAMMA Investing LLC owned approximately 0.10% of Corsair Gaming worth $932,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Alyeska Investment Group L.P. acquired a new stake in Corsair Gaming in the 4th quarter valued at $1,503,000. New York State Common Retirement Fund raised its stake in Corsair Gaming by 40.4% during the fourth 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 period. Vanguard Group Inc. raised its stake in Corsair Gaming by 2.6% during the fourth 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 period. Bank of Montreal Can acquired a new stake in shares of Corsair Gaming in the fourth quarter valued at approximately $912,000. Finally, Invesco Ltd. increased its stake in shares of Corsair Gaming by 28.4% in the fourth quarter. Invesco Ltd. now owns 578,749 shares of the company’s stock valued at $3,826,000 after purchasing an additional 127,948 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

Insider Activity

In related news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction 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 in the company, valued at approximately $1,266,552. This represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 58.38% of the company’s stock.

Analyst Ratings Changes

CRSR has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Barclays cut their price target on shares of 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 price target on shares of Corsair Gaming in a research report on Monday, May 5th. Robert W. Baird set a $10.00 target price on shares of Corsair Gaming in a research report on Wednesday, May 7th. Finally, Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.00.

Corsair Gaming Trading Up 3.5%

Shares of NASDAQ CRSR opened at $9.37 on Tuesday. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The company has a 50-day moving average of $7.86 and a two-hundred day moving average of $8.58. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market cap of $991.54 million, a PE ratio of -9.86 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate 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 firm 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 posted $0.09 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, equities analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

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.