Corsair Gaming (NASDAQ:CRSR) Director Samuel Szteinbaum Acquires 100,000 Shares

Corsair Gaming, Inc. (NASDAQ:CRSR) Director Samuel Szteinbaum purchased 100,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was purchased at an average price of $6.59 per share, with a total value of $659,000.00. Following the completion of the transaction, the director owned 420,267 shares of the company’s stock, valued at approximately $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.

Corsair Gaming Price Performance

Shares of Corsair Gaming stock traded down $0.05 on Monday, hitting $6.50. 908,324 shares of the company traded hands, compared to its average volume of 782,522. Corsair Gaming, Inc. has a 52 week low of $5.64 and a 52 week high of $13.02. The business has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $8.63. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.72 and a current ratio of 1.48. The stock has a market capitalization of $692.71 million, a P/E ratio of -19.12 and a beta of 1.85.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Thursday, August 7th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The company had revenue of $320.11 million during the quarter, compared to analysts’ expectations of $312.38 million. During the same period last year, the company posted ($0.07) earnings per share. Corsair Gaming’s quarterly revenue was up 22.5% on a year-over-year basis. Research analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRSR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Corsair Gaming in a report on Wednesday, October 8th. B. Riley cut their price target on Corsair Gaming from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. Macquarie reduced their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Wedbush cut their price target on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays dropped their price objective on shares of Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $9.29.

Hedge Funds Weigh In On Corsair Gaming

Large investors have recently added to or reduced their stakes in the stock. Virtus Advisers LLC purchased a new stake in shares of Corsair Gaming during the second quarter worth about $45,000. Ameritas Investment Partners Inc. lifted its holdings in Corsair Gaming by 30.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares in the last quarter. Tower Research Capital LLC TRC grew 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 buying an additional 3,681 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings 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 last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Corsair Gaming by 70.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after purchasing an additional 3,571 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

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.