Rhumbline Advisers Grows Stake in Corsair Gaming, Inc. (NASDAQ:CRSR)

Rhumbline Advisers increased its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 11.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,322 shares of the company’s stock after purchasing an additional 13,940 shares during the period. Rhumbline Advisers’ holdings in Corsair Gaming were worth $1,483,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Corsair Gaming by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock valued at $13,830,000 after purchasing an additional 41,832 shares in the last quarter. Lebenthal Global Advisors LLC lifted its stake in shares of Corsair Gaming by 16.2% in the second quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company’s stock worth $436,000 after buying an additional 5,508 shares in the last quarter. Virtu Financial LLC acquired a new position in Corsair Gaming during the first quarter worth about $162,000. Price T Rowe Associates Inc. MD grew its stake in Corsair Gaming by 7.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after acquiring an additional 1,348 shares in the last quarter. Finally, PEAK6 Investments LLC raised its holdings in Corsair Gaming by 144.3% in the 1st quarter. PEAK6 Investments LLC now owns 13,313 shares of the company’s stock valued at $164,000 after acquiring an additional 43,393 shares during the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Corsair Gaming Trading Up 2.0 %

Shares of Corsair Gaming stock opened at $6.66 on Friday. The stock has a 50 day moving average of $7.07 and a 200 day moving average of $9.91. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.80. The firm has a market capitalization of $692.01 million, a price-to-earnings ratio of -83.25 and a beta of 1.58. Corsair Gaming, Inc. has a fifty-two week low of $5.59 and a fifty-two week high of $15.07.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.12). The business had revenue of $261.30 million for the quarter, compared to analysts’ expectations of $290.30 million. Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. As a group, research analysts predict that Corsair Gaming, Inc. will post 0.07 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRSR has been the topic of several recent research reports. Wedbush lowered their target price on Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus lowered their price objective on Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Robert W. Baird dropped their target price on Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a report on Friday, July 19th. Barclays reduced their price target on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group dropped their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corsair Gaming currently has an average rating of “Moderate Buy” and an average target price of $11.00.

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.