Palisade Capital Management LP Has $21.41 Million Stock Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Palisade Capital Management LP lifted its position in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,416,490 shares of the company's stock after purchasing an additional 81,376 shares during the period. Palisade Capital Management LP owned 2.30% of Corsair Gaming worth $21,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Corsair Gaming by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock valued at $38,426,000 after purchasing an additional 148,674 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Corsair Gaming in the fourth quarter valued at about $912,000. Invesco Ltd. lifted its stake in shares of Corsair Gaming by 28.4% during the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock worth $3,826,000 after buying an additional 127,948 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Corsair Gaming by 1,051.0% during the 4th quarter. Intech Investment Management LLC now owns 127,647 shares of the company's stock worth $844,000 after buying an additional 116,557 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Corsair Gaming during the 4th quarter worth about $329,000. 25.66% of the stock is owned by institutional investors.

Corsair Gaming Price Performance

NASDAQ:CRSR traded down $0.13 during trading hours on Friday, reaching $9.60. 288,202 shares of the company were exchanged, compared to its average volume of 761,892. The business has a 50 day moving average of $8.64 and a 200 day moving average of $8.72. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.85. The company has a market capitalization of $1.02 billion, a P/E ratio of -10.32 and a beta of 1.77.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The company had revenue of $369.75 million for the quarter, compared to analyst estimates of $366.20 million. During the same period last year, the company posted $0.09 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays lowered their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded Corsair Gaming from a "hold" rating to a "buy" rating in a research note on Friday, June 27th. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research note on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $13.00 price objective on shares of Corsair Gaming in a research report on Monday, May 5th. Finally, The Goldman Sachs Group dropped their target price on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.00.

About Corsair Gaming

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.