Y Intercept Hong Kong Ltd Makes New $1.05 Million Investment in Corsair Gaming, Inc. $CRSR

Y Intercept Hong Kong Ltd bought a new position in Corsair Gaming, Inc. (NASDAQ:CRSR) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 117,322 shares of the company’s stock, valued at approximately $1,047,000.

Other hedge funds have also recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its holdings in Corsair Gaming by 30.7% during the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock worth $45,000 after purchasing an additional 1,120 shares during the last quarter. Virtus Advisers LLC purchased a new stake in shares of Corsair Gaming during the 2nd quarter valued at $45,000. Tower Research Capital LLC TRC raised its stake in shares of Corsair Gaming by 245.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after purchasing an additional 3,681 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after purchasing an additional 1,551 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Corsair Gaming by 70.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after buying an additional 3,571 shares during the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Samuel R. Szteinbaum purchased 100,000 shares of Corsair Gaming stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the transaction, the director owned 420,267 shares in the company, valued at $2,769,559.53. This trade represents a 31.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thi L. La acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the purchase, the chief executive officer owned 480,726 shares in the company, valued at $2,932,428.60. This trade represents a 11.61% increase in their position. The SEC filing for this purchase provides additional information. 58.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CRSR has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Macquarie reduced their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Barclays lowered their price target on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Craig Hallum set a $10.00 price objective on Corsair Gaming in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.07.

Corsair Gaming Stock Performance

NASDAQ CRSR opened at $5.10 on Friday. The firm has a market cap of $543.51 million, a P/E ratio of -15.00 and a beta of 1.53. The company has a quick ratio of 0.72, a current ratio of 1.48 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $5.99 and its 200-day moving average is $7.48. Corsair Gaming, Inc. has a 12-month low of $5.01 and a 12-month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The business had revenue of $345.76 million during the quarter, compared to analysts’ expectations of $354.04 million. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Corsair Gaming Company 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.