SG Americas Securities LLC Acquires New Holdings in Corsair Gaming, Inc. (NASDAQ:CRSR)

SG Americas Securities LLC bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 14,494 shares of the company’s stock, valued at approximately $101,000.

Several other hedge funds have also recently bought and sold shares of CRSR. Principal Financial Group Inc. increased its position in shares of Corsair Gaming by 16.4% during the first quarter. Principal Financial Group Inc. now owns 260,955 shares of the company’s stock worth $3,220,000 after acquiring an additional 36,714 shares in the last quarter. Capstone Investment Advisors LLC lifted its holdings in shares of Corsair Gaming by 9.0% in the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock valued at $336,000 after purchasing an additional 2,250 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Corsair Gaming during the first quarter worth about $1,318,000. Vanguard Group Inc. grew its holdings in shares of Corsair Gaming by 1.2% during the first quarter. Vanguard Group Inc. now owns 5,485,063 shares of the company’s stock worth $67,686,000 after buying an additional 64,373 shares in the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of Corsair Gaming by 286.4% during the first quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock worth $210,000 after buying an additional 12,631 shares in the last quarter. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRSR has been the subject of several recent research reports. Stifel Nicolaus reduced their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Robert W. Baird reduced their price target on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Barclays lowered their price target on Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Wedbush decreased their target price on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $10.60.

Corsair Gaming Price Performance

NASDAQ:CRSR opened at $6.30 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.26. Corsair Gaming, Inc. has a 12-month low of $5.59 and a 12-month high of $15.07. The stock’s 50 day moving average price is $6.59 and its two-hundred day moving average price is $8.91. The firm has a market capitalization of $654.61 million, a price-to-earnings ratio of -78.75 and a beta of 1.58.

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