Sequoia Financial Advisors LLC Acquires New Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Sequoia Financial Advisors LLC acquired a new stake in Corsair Gaming, Inc. (NASDAQ:CRSR) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,280 shares of the company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRSR. PNC Financial Services Group Inc. increased its holdings in Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock worth $33,000 after buying an additional 3,414 shares during the period. FMR LLC increased its holdings in Corsair Gaming by 89.0% in the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock worth $34,000 after buying an additional 2,291 shares during the period. GAMMA Investing LLC increased its holdings in Corsair Gaming by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock worth $44,000 after buying an additional 1,971 shares during the period. Intech Investment Management LLC acquired a new position in Corsair Gaming in the 3rd quarter worth approximately $77,000. Finally, Proficio Capital Partners LLC acquired a new position in Corsair Gaming in the 4th quarter worth approximately $90,000. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Trading Up 1.3 %

Shares of NASDAQ:CRSR opened at $10.07 on Friday. Corsair Gaming, Inc. has a 1 year low of $5.60 and a 1 year high of $13.02. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -10.60 and a beta of 1.60. 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 business’s 50 day moving average price is $10.21 and its 200-day moving average price is $8.01.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Barclays raised their price objective on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Robert W. Baird raised their price objective on shares of Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.14.

Insider Activity

In other news, CFO Michael G. Potter sold 4,124 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total transaction of $41,569.92. Following the transaction, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. This trade represents a 3.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 58.89% of the company’s stock.

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.