Corsair Gaming Target of Unusually High Options Trading (NASDAQ:CRSR)

Corsair Gaming, Inc. (NASDAQ:CRSR) was the target of some unusual options trading on Thursday. Investors purchased 7,695 call options on the stock. This is an increase of approximately 718% compared to the typical volume of 941 call options.

Institutional Investors Weigh In On Corsair Gaming

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Corsair Gaming by 18.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,759 shares of the company’s stock worth $273,000 after buying an additional 3,906 shares in the last quarter. SG Americas Securities LLC acquired a new position in Corsair Gaming during the third quarter worth about $101,000. GAMMA Investing LLC lifted its holdings in shares of Corsair Gaming by 995.8% in the third quarter. GAMMA Investing LLC now owns 4,745 shares of the company’s stock worth $33,000 after acquiring an additional 4,312 shares during the last quarter. Creative Planning lifted its holdings in shares of Corsair Gaming by 579.2% in the third quarter. Creative Planning now owns 82,182 shares of the company’s stock worth $572,000 after acquiring an additional 70,083 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Corsair Gaming in the 3rd quarter valued at approximately $462,000. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Up 25.9 %

NASDAQ CRSR opened at $12.51 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -13.90 and a beta of 1.68. The company has a 50 day moving average of $7.95 and a 200-day moving average of $7.18. Corsair Gaming has a 1-year low of $5.59 and a 1-year high of $14.13.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, meeting the consensus estimate of $0.16. Corsair Gaming had a negative return on equity of 4.58% and a negative net margin of 7.14%. On average, equities research analysts expect that Corsair Gaming will post -0.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CRSR shares. The Goldman Sachs Group dropped their price objective on shares of Corsair Gaming from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, November 7th. Macquarie lowered their price target on shares of Corsair Gaming from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Wedbush restated an “outperform” rating and set a $12.00 price objective (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. TD Cowen decreased their target price on Corsair Gaming from $10.00 to $9.00 and set a “hold” rating on the stock in a research report on Thursday, November 7th. Finally, Robert W. Baird lifted their price target on Corsair Gaming from $8.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.14.

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.