Insider Selling: Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Sells 4,124 Shares of Stock

Corsair Gaming, Inc. (NASDAQ:CRSR) CFO Michael G. Potter sold 4,124 shares of the stock in a transaction dated Wednesday, March 19th. The stock was 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 directly owns 125,650 shares of the company’s stock, valued at approximately $1,266,552. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Corsair Gaming Stock Up 1.3 %

Corsair Gaming stock opened at $10.07 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The firm’s fifty day simple moving average is $10.21 and its 200-day simple moving average is $8.03. The company has a market capitalization of $1.06 billion, a P/E ratio of -10.60 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting 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%. Sell-side analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRSR. Barclays upped their target price on Corsair Gaming from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Wedbush reiterated an “outperform” rating and issued a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research report on Wednesday, February 5th. Finally, Robert W. Baird boosted their price target on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.14.

Institutional Investors Weigh In On Corsair Gaming

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Corsair Gaming in the third quarter worth $462,000. Intech Investment Management LLC bought a new position in Corsair Gaming in the 3rd quarter worth $77,000. Landscape Capital Management L.L.C. lifted its position in Corsair Gaming by 51.3% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 129,306 shares of the company’s stock worth $900,000 after acquiring an additional 43,837 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 85.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company’s stock valued at $28,104,000 after acquiring an additional 1,857,532 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of Corsair Gaming in the third quarter valued at about $239,000. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Company 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.