Corsair Gaming, Inc. (NASDAQ:CRSR) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 18.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,263 shares of the company’s stock after purchasing an additional 8,545 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Corsair Gaming were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock valued at $33,000 after purchasing an additional 3,414 shares in the last quarter. BNP Paribas purchased a new position in Corsair Gaming in the fourth quarter worth approximately $33,000. Quarry LP acquired a new stake in Corsair Gaming during the fourth quarter worth $34,000. KLP Kapitalforvaltning AS purchased a new stake in Corsair Gaming in the fourth quarter valued at $50,000. Finally, Quadrant Capital Group LLC raised its position in Corsair Gaming by 45.8% in the fourth quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company’s stock valued at $53,000 after purchasing an additional 2,538 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CRSR. Wall Street Zen cut Corsair Gaming from a “buy” rating to a “hold” rating in a report on Thursday, May 22nd. Barclays lowered their price target on Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Robert W. Baird set a $10.00 price objective on Corsair Gaming in a report on Wednesday, May 7th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Corsair Gaming in a report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their target price on Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.00.

Insider Buying and Selling at Corsair Gaming

In other news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the sale, the chief financial officer now owns 125,650 shares in the company, valued at approximately $1,266,552. The trade was a 3.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 58.38% of the stock is currently owned by insiders.

Corsair Gaming Stock Down 1.8%

Corsair Gaming stock opened at $9.44 on Friday. The stock has a market cap of $998.95 million, a PE ratio of -9.94 and a beta of 1.77. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92. The stock’s fifty day moving average is $7.74 and its two-hundred day moving average is $8.54. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The company had revenue of $369.75 million during the quarter, compared to analysts’ expectations of $366.20 million. During the same period last year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, sell-side analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

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.