Renaissance Technologies LLC Lowers Stock Holdings in Corsair Gaming, Inc. (NASDAQ:CRSR)

Renaissance Technologies LLC trimmed its position in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 24.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 253,736 shares of the company's stock after selling 82,197 shares during the period. Renaissance Technologies LLC owned approximately 0.24% of Corsair Gaming worth $1,677,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CRSR. Barclays PLC increased its holdings in shares of Corsair Gaming by 257.3% during the third quarter. Barclays PLC now owns 78,933 shares of the company's stock valued at $549,000 after acquiring an additional 56,841 shares in the last quarter. JPMorgan Chase & Co. grew its position in Corsair Gaming by 7.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 39,429 shares of the company's stock valued at $274,000 after purchasing an additional 2,756 shares during the period. GAMMA Investing LLC increased its stake in 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 purchasing an additional 1,971 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Corsair Gaming by 133.0% during the 4th quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company's stock valued at $463,000 after purchasing an additional 40,015 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Corsair Gaming by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 218,742 shares of the company's stock worth $1,446,000 after buying an additional 7,351 shares during the last quarter. 25.66% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRSR has been the subject of a number of analyst reports. Wedbush reiterated an "outperform" rating and set a $12.00 price objective (up from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Robert W. Baird lifted their price target on Corsair Gaming from $8.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Barclays increased their price objective on Corsair Gaming from $9.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Corsair Gaming currently has an average rating of "Moderate Buy" and a consensus price target of $10.14.

Corsair Gaming Stock Performance

CRSR traded up $0.21 during trading hours on Friday, hitting $7.23. The stock had a trading volume of 111,215 shares, compared to its average volume of 708,647. Corsair Gaming, Inc. has a 1 year low of $5.60 and a 1 year high of $13.02. The company's fifty day simple moving average is $8.67 and its 200 day simple moving average is $8.17. The stock has a market cap of $757.58 million, a PE ratio of -7.61 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Insider Activity at Corsair Gaming

In other news, CFO Michael G. Potter sold 4,124 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the completion of the transaction, the chief financial officer now directly owns 125,650 shares of the company's stock, valued at $1,266,552. This trade represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 58.89% of the stock is owned by company insiders.

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.