Wealth Enhancement Advisory Services LLC Acquires New Holdings in Corsair Gaming, Inc. (NASDAQ:CRSR)

Wealth Enhancement Advisory Services LLC acquired a new stake in Corsair Gaming, Inc. (NASDAQ:CRSR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,744 shares of the company’s stock, valued at approximately $91,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Corsair Gaming by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock valued at $38,426,000 after acquiring an additional 148,674 shares during the last quarter. Geode Capital Management LLC grew its stake in Corsair Gaming by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 1,069,122 shares of the company’s stock valued at $7,069,000 after acquiring an additional 9,344 shares during the last quarter. New York State Common Retirement Fund grew its stake in Corsair Gaming by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock valued at $4,884,000 after acquiring an additional 212,792 shares during the last quarter. Invesco Ltd. grew its stake in Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company’s stock valued at $3,826,000 after acquiring an additional 127,948 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Corsair Gaming by 19.5% in the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company’s stock valued at $3,243,000 after acquiring an additional 80,012 shares during the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

Corsair Gaming Trading Down 2.9%

Shares of CRSR stock opened at $9.10 on Wednesday. The firm has a market cap of $962.96 million, a P/E ratio of -9.78 and a beta of 1.77. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.85. The firm’s 50-day simple moving average is $7.91 and its 200-day simple moving average is $8.58.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly 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 7.20% and a negative return on equity of 4.65%. 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 previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CRSR. Wall Street Zen cut shares of Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Thursday, May 22nd. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Corsair Gaming in a research note on Monday, May 5th. Barclays decreased their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their price target on shares of 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 target on shares of Corsair Gaming in a research note on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.