Investor AB Makes New $741,000 Investment in Corsair Gaming, Inc. $CRSR

Investor AB bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 124,711 shares of the company’s stock, valued at approximately $741,000. Corsair Gaming accounts for 0.0% of Investor AB’s investment portfolio, making the stock its 7th biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new position in shares of Corsair Gaming during the third quarter worth approximately $3,877,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Corsair Gaming by 15.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after buying an additional 401,171 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Corsair Gaming by 128.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 625,000 shares of the company’s stock worth $5,575,000 after buying an additional 352,000 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Corsair Gaming by 328.9% during the second quarter. AQR Capital Management LLC now owns 397,881 shares of the company’s stock worth $3,752,000 after buying an additional 305,103 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Corsair Gaming during the third quarter worth approximately $2,555,000. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Performance

Shares of NASDAQ CRSR opened at $8.48 on Thursday. The business has a fifty day simple moving average of $7.70 and a 200 day simple moving average of $6.44. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $906.34 million, a price-to-earnings ratio of 106.01 and a beta of 1.83. Corsair Gaming, Inc. has a one year low of $4.48 and a one year high of $13.10.

Corsair Gaming (NASDAQ:CRSR) last issued its earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09. The business had revenue of $354.51 million during the quarter, compared to analyst estimates of $351.58 million. Corsair Gaming had a return on equity of 9.71% and a net margin of 0.71%.Corsair Gaming’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. Sell-side analysts expect that Corsair Gaming, Inc. will post 0.46 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wedbush upped their price target on Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Craig Hallum reiterated a “hold” rating and set a $10.00 price target on shares of Corsair Gaming in a report on Monday, June 1st. Barclays upped their price target on Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $8.33.

Corsair Gaming Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.