Palisade Capital Management LLC NJ Acquires Shares of 475,593 Corsair Gaming, Inc. (NASDAQ:CRSR)

Palisade Capital Management LLC NJ acquired a new stake in Corsair Gaming, Inc. (NASDAQ:CRSRGet Rating) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 475,593 shares of the company’s stock, valued at approximately $10,064,000. Palisade Capital Management LLC NJ owned 0.50% of Corsair Gaming as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue bought a new stake in Corsair Gaming in the first quarter worth approximately $499,000. Virginia Retirement Systems ET AL bought a new stake in Corsair Gaming in the fourth quarter worth approximately $311,000. GSA Capital Partners LLP bought a new stake in Corsair Gaming in the fourth quarter worth approximately $367,000. Maryland State Retirement & Pension System bought a new stake in Corsair Gaming in the first quarter worth approximately $281,000. Finally, Mutual of America Capital Management LLC bought a new stake in Corsair Gaming in the first quarter worth approximately $101,000. 14.77% of the stock is owned by institutional investors.

Insider Activity at Corsair Gaming

In related news, Director Samuel R. Szteinbaum bought 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $14.29 per share, for a total transaction of $1,143,200.00. Following the purchase, the director now directly owns 237,269 shares in the company, valued at $3,390,574.01. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 61.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CRSR. Wedbush reissued an “outperform” rating and issued a $22.00 target price on shares of Corsair Gaming in a research report on Friday, May 6th. DA Davidson decreased their price objective on shares of Corsair Gaming from $28.00 to $22.00 in a report on Friday, July 22nd. Finally, Stifel Nicolaus decreased their price objective on shares of Corsair Gaming from $29.00 to $24.00 in a report on Friday, April 22nd. Three investment 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 has an average rating of “Moderate Buy” and an average price target of $26.50.

Corsair Gaming Price Performance

NASDAQ CRSR opened at $16.34 on Friday. Corsair Gaming, Inc. has a 1 year low of $12.23 and a 1 year high of $30.77. The company has a fifty day simple moving average of $14.28 and a 200 day simple moving average of $17.55. The company has a quick ratio of 0.85, a current ratio of 1.63 and a debt-to-equity ratio of 0.41.

Corsair Gaming (NASDAQ:CRSRGet Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.24). The company had revenue of $283.90 million for the quarter, compared to analyst estimates of $274.81 million. Corsair Gaming had a negative net margin of 2.43% and a positive return on equity of 4.36%. Corsair Gaming’s revenue for the quarter was down 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 earnings per share. On average, equities analysts expect that Corsair Gaming, Inc. will post 0.68 EPS for the current fiscal year.

About Corsair Gaming

(Get Rating)

Corsair Gaming, Inc, together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and creator peripherals, including gaming keyboards, mice, headsets, and controllers, as well as capture cards, stream decks, USB microphones, studio accessories, and EpocCam software.

See Also

Institutional Ownership by Quarter for Corsair Gaming (NASDAQ:CRSR)

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