Y Intercept Hong Kong Ltd Invests $1.05 Million in Corsair Gaming, Inc. $CRSR

Y Intercept Hong Kong Ltd purchased a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 117,322 shares of the company’s stock, valued at approximately $1,047,000. Y Intercept Hong Kong Ltd owned about 0.11% of Corsair Gaming at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in shares of Corsair Gaming by 30.7% in the second quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after acquiring an additional 1,120 shares during the period. Virtus Advisers LLC bought a new stake in Corsair Gaming in the 2nd quarter valued at about $45,000. Tower Research Capital LLC TRC increased its holdings in shares of Corsair Gaming by 245.9% during the second 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 position in shares of Corsair Gaming by 24.7% in the second quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock valued at $74,000 after buying an additional 1,551 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Corsair Gaming by 70.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock valued at $81,000 after buying an additional 3,571 shares during the period. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Down 1.0%

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

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

Insider Activity at Corsair Gaming

In related news, CEO Thi L. La acquired 50,000 shares of the stock in a transaction dated Tuesday, November 25th. The stock was bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the purchase, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Samuel R. Szteinbaum bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the transaction, the director directly 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. Additional details regarding this purchase are available in the official SEC disclosure. 58.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRSR has been the subject of several analyst reports. B. Riley dropped their price objective on Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Macquarie dropped their price target on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Craig Hallum set a $10.00 price objective on shares of Corsair Gaming in a research report on Wednesday, November 5th. Barclays reduced their price target on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Finally, Wedbush reduced their target price on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a report on Wednesday, November 5th. Four research 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $9.07.

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.