Principal Financial Group Inc. Buys 5,596 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Principal Financial Group Inc. boosted its holdings in Corsair Gaming, Inc. (NASDAQ:CRSR) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,338 shares of the company’s stock after buying an additional 5,596 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Corsair Gaming worth $1,988,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. 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 buying an additional 148,674 shares in the last quarter. Bank of Montreal Can purchased a new position in Corsair Gaming in the 4th quarter valued at approximately $912,000. 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 buying an additional 127,948 shares in the last quarter. Intech Investment Management LLC grew its stake in Corsair Gaming by 1,051.0% in the 4th quarter. Intech Investment Management LLC now owns 127,647 shares of the company’s stock valued at $844,000 after buying an additional 116,557 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in Corsair Gaming in the 4th quarter valued at approximately $329,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays reduced their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. Robert W. Baird set a $10.00 price target on shares of Corsair Gaming in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their price target on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Wall Street Zen upgraded shares of Corsair Gaming from a “hold” rating to a “buy” rating in a research report on Friday, June 27th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Corsair Gaming in a research report on Monday, May 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Corsair Gaming Stock Down 2.0%

Shares of NASDAQ:CRSR opened at $9.28 on Friday. Corsair Gaming, Inc. has a 52-week low of $5.60 and a 52-week high of $13.02. The firm has a fifty day moving average of $9.15 and a 200 day moving average of $8.94. The firm has a market capitalization of $982.01 million, a PE ratio of -9.98 and a beta of 1.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.52.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The company had revenue of $369.75 million during the quarter, compared to analysts’ expectations of $366.20 million. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. As a group, research analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS 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.