Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR – Get Rating) by 65.9% during the 4th quarter, Holdings Channel reports. The firm owned 5,270 shares of the company’s stock after purchasing an additional 2,093 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corsair Gaming were worth $72,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRSR. Centaurus Financial Inc. lifted its holdings in Corsair Gaming by 7.5% during the third quarter. Centaurus Financial Inc. now owns 10,122 shares of the company’s stock worth $115,000 after acquiring an additional 704 shares during the period. Comerica Bank raised its position in Corsair Gaming by 2.9% in the third quarter. Comerica Bank now owns 29,275 shares of the company’s stock worth $364,000 after acquiring an additional 835 shares during the period. LPL Financial LLC boosted its stake in Corsair Gaming by 4.1% in the second quarter. LPL Financial LLC now owns 21,415 shares of the company’s stock valued at $281,000 after acquiring an additional 839 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Corsair Gaming by 429.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,509 shares of the company’s stock valued at $32,000 after acquiring an additional 1,224 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Corsair Gaming by 5.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 26,573 shares of the company’s stock worth $301,000 after purchasing an additional 1,338 shares during the last quarter. Hedge funds and other institutional investors own 81.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on Corsair Gaming in a report on Sunday, April 16th. They set a “neutral” rating and a $20.00 price objective for the company. Stifel Nicolaus boosted their price objective on Corsair Gaming from $18.00 to $19.00 in a research note on Thursday. Wedbush downgraded shares of Corsair Gaming from an “outperform” rating to a “neutral” rating and set a $17.00 target price for the company. in a research note on Monday, February 6th. Barclays upped their price target on shares of Corsair Gaming from $19.00 to $21.00 in a research note on Thursday. Finally, Robert W. Baird lifted their price objective on shares of Corsair Gaming from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, February 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

Insider Activity

In related news, COO Thi L. La sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $18.14, for a total value of $90,700.00. Following the transaction, the chief operating officer now directly owns 231,840 shares in the company, valued at $4,205,577.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 61.01% of the company’s stock.

Corsair Gaming Stock Performance

Corsair Gaming stock opened at $19.04 on Friday. The firm’s 50 day simple moving average is $17.30 and its 200 day simple moving average is $16.19. The company has a current ratio of 1.82, a quick ratio of 1.25 and a debt-to-equity ratio of 0.37. Corsair Gaming, Inc. has a 1-year low of $10.96 and a 1-year high of $19.82. The firm has a market capitalization of $1.94 billion, a PE ratio of -29.75 and a beta of 1.84.

Corsair Gaming (NASDAQ:CRSR – Get Rating) last issued its quarterly earnings data on Thursday, February 9th. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. Corsair Gaming had a positive return on equity of 0.04% and a negative net margin of 4.85%. The company had revenue of $398.73 million for the quarter, compared to the consensus estimate of $376.54 million. As a group, analysts expect that Corsair Gaming, Inc. will post 0.41 earnings per share for the current fiscal year.

About Corsair Gaming

(Get Rating)

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, stream decks, USB microphones, studio accessories, and EpocCam software.