Magnetar Financial LLC Makes New $67,000 Investment in Corsair Gaming, Inc. (NASDAQ:CRSR)

Magnetar Financial LLC bought a new position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,119 shares of the company’s stock, valued at approximately $67,000.

Other large investors have also made changes to their positions in the company. Barclays PLC boosted its position in shares of Corsair Gaming by 257.3% during the 3rd quarter. Barclays PLC now owns 78,933 shares of the company’s stock worth $549,000 after acquiring an additional 56,841 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock worth $463,000 after acquiring an additional 40,015 shares in the last quarter. Main Management ETF Advisors LLC acquired a new stake in shares of Corsair Gaming during the 3rd quarter worth approximately $735,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corsair Gaming during the 3rd quarter worth approximately $1,094,000. Finally, New York State Common Retirement Fund boosted its position in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock worth $4,884,000 after acquiring an additional 212,792 shares in the last quarter. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Price Performance

CRSR stock opened at $10.07 on Monday. The company has a fifty day moving average price of $10.21 and a 200-day moving average price of $8.04. 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, Inc. has a 52-week low of $5.60 and a 52-week high of $13.02. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. As a group, equities analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRSR. Wedbush restated 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. Robert W. Baird raised their target price on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays raised their target price 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.14.

Insider Buying and Selling

In related news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the completion of the transaction, the chief financial officer now owns 125,650 shares of the company’s stock, valued at $1,266,552. This trade represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 58.89% of the stock is owned by insiders.

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.