Massachusetts Financial Services Co. MA Has $24.07 Million Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Massachusetts Financial Services Co. MA raised its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 7.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,180,426 shares of the company’s stock after purchasing an additional 153,036 shares during the period. Massachusetts Financial Services Co. MA owned 2.10% of Corsair Gaming worth $24,072,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers increased its holdings in shares of Corsair Gaming by 11.6% in the second quarter. Rhumbline Advisers now owns 134,322 shares of the company’s stock valued at $1,483,000 after purchasing an additional 13,940 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Corsair Gaming by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,252,737 shares of the company’s stock valued at $13,830,000 after purchasing an additional 41,832 shares during the last quarter. Lebenthal Global Advisors LLC increased its holdings in shares of Corsair Gaming by 16.2% in the second quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company’s stock valued at $436,000 after purchasing an additional 5,508 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Corsair Gaming in the first quarter valued at $162,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Corsair Gaming by 7.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock valued at $250,000 after acquiring an additional 1,348 shares during the period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reduced their target price on shares of Corsair Gaming from $14.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, July 19th. Stifel Nicolaus reduced their target price on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Barclays reduced their target price on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Wedbush reduced their target price on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Corsair Gaming Trading Up 2.0 %

CRSR opened at $6.66 on Friday. Corsair Gaming, Inc. has a twelve month low of $5.59 and a twelve month high of $15.07. The company has a 50-day simple moving average of $7.07 and a 200 day simple moving average of $9.91. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $692.01 million, a price-to-earnings ratio of -83.25 and a beta of 1.58.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). Corsair Gaming had a positive return on equity of 2.17% and a negative net margin of 2.83%. The firm had revenue of $261.30 million for the quarter, compared to the consensus estimate of $290.30 million. During the same period in the prior year, the company earned $0.03 EPS. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. Analysts predict that Corsair Gaming, Inc. will post 0.07 EPS for the current fiscal year.

Corsair Gaming Company 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.