Hussman Strategic Advisors Inc. Acquires New Shares in Corsair Gaming, Inc. $CRSR

Hussman Strategic Advisors Inc. bought a new position in Corsair Gaming, Inc. (NASDAQ:CRSR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 105,000 shares of the company’s stock, valued at approximately $937,000. Hussman Strategic Advisors Inc. owned 0.10% of Corsair Gaming at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new position in shares of Corsair Gaming during the second quarter worth about $45,000. Ameritas Investment Partners Inc. boosted its stake in Corsair Gaming by 30.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,765 shares of the company’s stock valued at $45,000 after purchasing an additional 1,120 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Corsair Gaming by 245.9% during the second quarter. Tower Research Capital LLC TRC now owns 5,178 shares of the company’s stock worth $49,000 after buying an additional 3,681 shares during the period. BNP Paribas Financial Markets boosted its position in Corsair Gaming by 24.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,819 shares of the company’s stock worth $74,000 after acquiring an additional 1,551 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Corsair Gaming by 70.6% in the second quarter. PNC Financial Services Group Inc. now owns 8,632 shares of the company’s stock worth $81,000 after purchasing an additional 3,571 shares during the period. 25.66% of the stock is currently owned by institutional investors.

Corsair Gaming Stock Performance

Shares of CRSR opened at $5.15 on Thursday. The company has a 50-day moving average of $6.01 and a two-hundred day moving average of $7.54. The stock has a market cap of $548.84 million, a price-to-earnings ratio of -15.15 and a beta of 1.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. Corsair Gaming, Inc. has a one year low of $5.13 and a one year high of $13.02.

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

Insider Buying and Selling at Corsair Gaming

In other Corsair Gaming news, Director Samuel R. Szteinbaum bought 100,000 shares of Corsair Gaming stock in a transaction dated Friday, November 7th. The stock was bought at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the acquisition, the director directly owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This trade represents a 31.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thi L. La bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was acquired at an average cost of $6.10 per share, with a total value of $305,000.00. Following the transaction, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This trade represents a 11.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 58.38% of the stock is owned by insiders.

Analysts Set New Price Targets

CRSR has been the topic of several research reports. Macquarie dropped their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen downgraded shares of Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Wedbush cut their target price on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Craig Hallum set a $10.00 price target on shares of Corsair Gaming in a research report on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.07.

Corsair Gaming Company Profile

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.