PNC Financial Services Group Inc. Increases Stock Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

PNC Financial Services Group Inc. lifted its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 220.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,965 shares of the company’s stock after acquiring an additional 3,414 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corsair Gaming were worth $33,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CRSR. FMR LLC grew its holdings in Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after purchasing an additional 2,291 shares during the period. GAMMA Investing LLC grew its stake in shares of Corsair Gaming by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 6,716 shares of the company’s stock valued at $44,000 after acquiring an additional 1,971 shares during the period. Intech Investment Management LLC purchased a new position in shares of Corsair Gaming during the 3rd quarter valued at $77,000. Proficio Capital Partners LLC bought a new position in Corsair Gaming in the 4th quarter worth $90,000. Finally, Glenmede Trust Co. NA purchased a new stake in Corsair Gaming in the 3rd quarter worth $97,000. 25.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRSR. Wedbush reissued an “outperform” rating and set a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a research note on Wednesday, February 5th. Robert W. Baird lifted their price objective on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Barclays upped their target price on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and an average target price of $10.14.

Insider Buying and Selling

In related news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the sale, the chief financial officer now owns 125,650 shares in the company, valued at approximately $1,266,552. This trade represents a 3.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 58.89% of the stock is currently owned by company insiders.

Corsair Gaming Stock Down 2.9 %

CRSR stock opened at $9.67 on Friday. The firm’s fifty day simple moving average is $10.38 and its 200-day simple moving average is $8.12. The company has a market capitalization of $1.01 billion, a P/E ratio of -10.18 and a beta of 1.60. Corsair Gaming, Inc. has a 12 month low of $5.60 and a 12 month high of $13.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92.

Corsair Gaming (NASDAQ:CRSR) last announced its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.16. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. As a group, equities research analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current 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.