Corsair Gaming (NASDAQ:CRSR) Shares Down 5.8%


Share on StockTwits

Corsair Gaming, Inc. (NASDAQ:CRSR) shares dropped 5.8% during mid-day trading on Tuesday . The stock traded as low as $33.11 and last traded at $38.35. Approximately 4,212,844 shares traded hands during trading, an increase of 3% from the average daily volume of 4,075,310 shares. The stock had previously closed at $40.71.

CRSR has been the topic of several analyst reports. Macquarie upped their target price on Corsair Gaming from $42.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, February 10th. Wedbush upped their target price on Corsair Gaming from $49.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, February 10th. Barclays upped their target price on Corsair Gaming from $45.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, February 10th. DA Davidson upped their target price on Corsair Gaming from $33.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 10th. Finally, Cowen downgraded Corsair Gaming from an “outperform” rating to a “market perform” rating and upped their target price for the company from $32.00 to $37.00 in a research report on Wednesday, December 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.90.

The company has a quick ratio of 0.94, a current ratio of 1.41 and a debt-to-equity ratio of 0.95. The company’s 50 day moving average is $39.94.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Monday, February 8th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.07. The company had revenue of $556.30 million during the quarter, compared to the consensus estimate of $530.00 million. The company’s quarterly revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share. Equities analysts expect that Corsair Gaming, Inc. will post 1.38 EPS for the current fiscal year.

In other Corsair Gaming news, insider Thi L. La sold 100,000 shares of the company’s stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $35.00, for a total transaction of $3,500,000.00. Following the completion of the sale, the insider now directly owns 139,816 shares in the company, valued at $4,893,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Andrew J. Paul sold 250,000 shares of the company’s stock in a transaction on Tuesday, January 26th. The stock was sold at an average price of $35.00, for a total value of $8,750,000.00. Following the sale, the chief executive officer now owns 3,057,807 shares of the company’s stock, valued at $107,023,245. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Corsair Gaming by 13.7% in the fourth quarter. BlackRock Inc. now owns 2,457,103 shares of the company’s stock valued at $88,996,000 after purchasing an additional 295,743 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Corsair Gaming during the third quarter worth about $36,807,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Corsair Gaming during the third quarter worth about $31,314,000. Blackstone Group Inc bought a new stake in shares of Corsair Gaming during the third quarter worth about $8,040,000. Finally, Northern Trust Corp bought a new stake in shares of Corsair Gaming during the fourth quarter worth about $6,794,000. Hedge funds and other institutional investors own 13.32% of the company’s stock.

About Corsair Gaming (NASDAQ:CRSR)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, studio accessories, and others.

Featured Story: When can a hold rating present a buying opportunity?

Receive News & Ratings for Corsair Gaming Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corsair Gaming and related companies with MarketBeat.com's FREE daily email newsletter.