PNC Financial Services Group Inc. Has $33,000 Stake in Corsair Gaming, Inc. (NASDAQ:CRSR)

PNC Financial Services Group Inc. increased its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 220.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,965 shares of the company’s stock after buying an additional 3,414 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corsair Gaming were worth $33,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its position in 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 purchasing an additional 56,841 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Corsair Gaming by 133.0% in 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 during the last quarter. Main Management ETF Advisors LLC acquired a new position in shares of Corsair Gaming during the 3rd quarter worth $735,000. Jacobs Levy Equity Management Inc. bought a new stake in shares of Corsair Gaming during the 3rd quarter worth $1,094,000. Finally, New York State Common Retirement Fund lifted its position in shares of Corsair Gaming by 40.4% during the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company’s stock worth $4,884,000 after buying an additional 212,792 shares during the last quarter. Institutional investors own 25.66% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Michael G. Potter sold 4,124 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction 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 approximately $1,266,552. This represents a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 58.89% of the stock is currently owned by insiders.

Corsair Gaming Stock Performance

Shares of CRSR stock opened at $9.67 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -10.18 and a beta of 1.60. Corsair Gaming, Inc. has a 52 week low of $5.60 and a 52 week high of $13.02. The firm’s 50-day simple moving average is $10.38 and its two-hundred day simple moving average is $8.12.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.16 EPS for the quarter, hitting 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 analysts forecast that Corsair Gaming, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

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

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.