Intech Investment Management LLC Purchases 116,557 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Intech Investment Management LLC increased its position in Corsair Gaming, Inc. (NASDAQ:CRSR) by 1,051.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 127,647 shares of the company’s stock after acquiring an additional 116,557 shares during the period. Intech Investment Management LLC’s holdings in Corsair Gaming were worth $844,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRSR. Quest Partners LLC bought a new position in shares of Corsair Gaming during the third quarter valued at $462,000. Massachusetts Financial Services Co. MA raised its position 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 buying an additional 1,857,532 shares during the last quarter. Quantbot Technologies LP bought a new position in Corsair Gaming during the 3rd quarter valued at about $239,000. FMR LLC boosted its holdings in shares of Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after acquiring an additional 2,291 shares during the last quarter. Finally, Glenmede Trust Co. NA bought a new stake in shares of Corsair Gaming in the third quarter worth approximately $97,000. 25.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Transactions at Corsair Gaming

In related news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction that occurred 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 directly owns 125,650 shares of the company’s stock, valued at approximately $1,266,552. This represents a 3.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 58.89% of the company’s stock.

Corsair Gaming Stock Up 1.3 %

CRSR opened at $10.07 on Monday. The firm’s 50 day simple moving average is $10.21 and its two-hundred day simple moving average is $8.04. The company has a market capitalization of $1.06 billion, a PE ratio of -10.60 and a beta of 1.60. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. 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 (NASDAQ:CRSR) last announced its earnings results on Wednesday, February 12th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. As a group, equities analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

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.