Intech Investment Management LLC Purchases 116,557 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Intech Investment Management LLC lifted its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 1,051.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,647 shares of the company's stock after acquiring an additional 116,557 shares during the quarter. Intech Investment Management LLC owned 0.12% of Corsair Gaming worth $844,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Barclays PLC boosted its stake in Corsair Gaming by 257.3% in the third quarter. Barclays PLC now owns 78,933 shares of the company's stock valued at $549,000 after acquiring an additional 56,841 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Corsair Gaming by 133.0% in the fourth quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company's stock valued at $463,000 after purchasing an additional 40,015 shares during the last quarter. Main Management ETF Advisors LLC bought a new position in Corsair Gaming during the third quarter valued at $735,000. Jacobs Levy Equity Management Inc. purchased a new stake in Corsair Gaming in the third quarter worth $1,094,000. Finally, New York State Common Retirement Fund raised its stake in shares of Corsair Gaming by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock valued at $4,884,000 after buying an additional 212,792 shares during the period. 25.66% of the stock is currently owned by institutional investors.

Corsair Gaming Price Performance

NASDAQ:CRSR traded down $0.29 during trading hours on Thursday, hitting $9.67. 615,784 shares of the company's stock traded hands, compared to its average volume of 620,095. The business's fifty day simple moving average is $10.34 and its two-hundred day simple moving average is $8.11. Corsair Gaming, Inc. has a 52 week low of $5.60 and a 52 week high of $13.02. The firm has a market cap of $1.01 billion, a P/E ratio of -10.18 and a beta of 1.60. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27.

Remove Ads

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting analysts' consensus estimates of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. On average, research analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the sale, the chief financial officer now owns 125,650 shares of the company's stock, valued at $1,266,552. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 58.89% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CRSR. Barclays increased their price target on Corsair Gaming from $9.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Wedbush reiterated an "outperform" rating and set a $12.00 price objective (up from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Finally, Robert W. Baird raised their target price on Corsair Gaming from $8.00 to $11.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Corsair Gaming presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.14.

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.