Insider Selling: Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Sells $41,569.92 in Stock

Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Michael G. Potter sold 4,124 shares of the company’s stock in a transaction on Wednesday, March 19th. The shares were 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 approximately $1,266,552. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Corsair Gaming Stock Up 1.3 %

Shares of Corsair Gaming stock opened at $10.07 on Monday. The stock’s fifty day moving average is $10.21 and its 200-day moving average is $8.04. The firm has a market capitalization of $1.06 billion, a PE ratio of -10.60 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. Corsair Gaming, Inc. has a 12-month low of $5.60 and a 12-month high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Institutional Investors Weigh In On Corsair Gaming

Several hedge funds have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA lifted its stake in Corsair Gaming by 85.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock worth $28,104,000 after acquiring an additional 1,857,532 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in Corsair Gaming in the 4th quarter worth about $1,503,000. New York State Common Retirement Fund lifted its stake in Corsair Gaming by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock worth $4,884,000 after acquiring an additional 212,792 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in Corsair Gaming in the 3rd quarter worth about $1,094,000. Finally, Vanguard Group Inc. lifted its stake in Corsair Gaming by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company’s stock worth $38,426,000 after acquiring an additional 148,674 shares in the last quarter. 25.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRSR. Barclays upped their price objective on Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $12.00 target price (up from $10.00) on shares of Corsair Gaming in a research report on Wednesday, February 5th. Finally, Robert W. Baird boosted their target price on Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a research report 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 MarketBeat, Corsair Gaming has an average rating of “Moderate Buy” and a consensus price target of $10.14.

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.