Rhumbline Advisers Sells 4,496 Shares of Corsair Gaming, Inc. $CRSR

Rhumbline Advisers cut its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,515 shares of the company’s stock after selling 4,496 shares during the quarter. Rhumbline Advisers owned about 0.12% of Corsair Gaming worth $1,147,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Palisade Capital Management LP grew its stake in Corsair Gaming by 3.5% in the first quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company’s stock valued at $21,410,000 after purchasing an additional 81,376 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Corsair Gaming in the 4th quarter worth approximately $329,000. Jump Financial LLC grew its position in shares of Corsair Gaming by 124.4% in the 1st quarter. Jump Financial LLC now owns 102,690 shares of the company’s stock worth $910,000 after buying an additional 56,921 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Corsair Gaming by 324.6% during the 4th quarter. Squarepoint Ops LLC now owns 63,222 shares of the company’s stock worth $418,000 after acquiring an additional 48,332 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Corsair Gaming by 19.5% during the fourth 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 currently owned by hedge funds and other institutional investors.

Corsair Gaming Price Performance

Shares of NASDAQ CRSR opened at $8.57 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.75. The stock has a market capitalization of $908.76 million, a price-to-earnings ratio of -10.58 and a beta of 1.77. The firm’s 50 day simple moving average is $8.96 and its 200-day simple moving average is $8.73. Corsair Gaming, Inc. has a 12 month low of $5.64 and a 12 month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $320.11 million for the quarter, compared to the consensus estimate of $312.38 million. Corsair Gaming had a negative net margin of 6.00% and a negative return on equity of 3.12%. The firm’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.07) earnings per share. Corsair Gaming has set its FY 2025 guidance at EPS. Analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on CRSR shares. Barclays raised shares of Corsair Gaming to a “strong-buy” rating in a report on Friday, August 8th. Wall Street Zen upgraded Corsair Gaming from a “hold” rating to a “buy” rating in a research note on Friday, June 27th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Corsair Gaming 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.