Optimize Financial Inc Invests $1.40 Million in Corsair Gaming, Inc. $CRSR

Optimize Financial Inc acquired a new stake in Corsair Gaming, Inc. (NASDAQ:CRSR) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 156,461 shares of the company’s stock, valued at approximately $1,396,000. Optimize Financial Inc owned approximately 0.15% of Corsair Gaming at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRSR. Geode Capital Management LLC grew its position in shares of Corsair Gaming by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,231,456 shares of the company’s stock worth $11,614,000 after purchasing an additional 61,075 shares in the last quarter. New York State Common Retirement Fund grew its position in Corsair Gaming by 0.4% during the second quarter. New York State Common Retirement Fund now owns 737,393 shares of the company’s stock worth $6,954,000 after buying an additional 2,969 shares in the last quarter. Invesco Ltd. increased its stake in Corsair Gaming by 6.0% during the 2nd quarter. Invesco Ltd. now owns 499,755 shares of the company’s stock worth $4,713,000 after acquiring an additional 28,446 shares during the period. Marshall Wace LLP raised its holdings in Corsair Gaming by 47.6% in the 2nd quarter. Marshall Wace LLP now owns 481,834 shares of the company’s stock valued at $4,544,000 after acquiring an additional 155,493 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Corsair Gaming by 83.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 449,779 shares of the company’s stock valued at $3,985,000 after acquiring an additional 204,351 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRSR shares. B. Riley cut their price target on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating for the company in a report on Monday, December 22nd. Wall Street Zen cut Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Barclays reduced their target price on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Macquarie lowered their price target on Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Wedbush reduced their price objective on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.07.

Insider Transactions at Corsair Gaming

In other Corsair Gaming news, CEO Thi L. La bought 50,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was acquired at an average cost of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the acquisition, the chief executive officer owned 480,726 shares in the company, valued at $2,932,428.60. This trade represents a 11.61% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Samuel R. Szteinbaum bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were bought at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the purchase, the director owned 420,267 shares of the company’s stock, valued at $2,769,559.53. This represents a 31.22% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 58.38% of the company’s stock.

Corsair Gaming Stock Down 4.5%

Shares of CRSR opened at $4.91 on Wednesday. The stock’s 50-day moving average price is $5.95 and its two-hundred day moving average price is $7.41. Corsair Gaming, Inc. has a 12 month low of $4.80 and a 12 month high of $13.02. The company has a market capitalization of $523.26 million, a PE ratio of -14.44 and a beta of 1.55. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm had revenue of $345.76 million during the quarter, compared to the consensus estimate of $354.04 million. During the same period in the prior year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.