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

Renaissance Technologies LLC boosted its position in Corsair Gaming, Inc. (NASDAQ:CRSR) by 12.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 418,033 shares of the company’s stock after buying an additional 45,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.40% of Corsair Gaming worth $4,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corsair Gaming by 7.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 20,235 shares of the company’s stock worth $250,000 after purchasing an additional 1,348 shares during the period. Capstone Investment Advisors LLC increased its holdings in Corsair Gaming by 9.0% during the first quarter. Capstone Investment Advisors LLC now owns 27,250 shares of the company’s stock valued at $336,000 after buying an additional 2,250 shares during the last quarter. Lebenthal Global Advisors LLC grew its stake in shares of Corsair Gaming by 16.2% during the 2nd quarter. Lebenthal Global Advisors LLC now owns 39,508 shares of the company’s stock valued at $436,000 after acquiring an additional 5,508 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Corsair Gaming by 286.4% in the first quarter. EntryPoint Capital LLC now owns 17,041 shares of the company’s stock worth $210,000 after acquiring an additional 12,631 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Corsair Gaming during the 1st quarter valued at approximately $162,000. Institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Up 5.2 %

CRSR stock opened at $7.02 on Friday. The firm has a market cap of $731.13 million, a PE ratio of -87.75 and a beta of 1.58. Corsair Gaming, Inc. has a one year low of $5.59 and a one year high of $15.07. The firm’s 50 day moving average price is $6.75 and its 200-day moving average price is $9.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.97 and a current ratio of 1.80.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.12). The company had revenue of $261.30 million during the quarter, compared to analyst estimates of $290.30 million. Corsair Gaming had a negative net margin of 2.83% and a positive return on equity of 2.17%. The firm’s revenue was down 19.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. On average, equities research analysts anticipate that Corsair Gaming, Inc. will post 0.07 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CRSR shares. Wedbush cut their target price on shares of Corsair Gaming from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Robert W. Baird dropped their price target on Corsair Gaming from $10.00 to $8.00 and set a “neutral” rating on the stock in a research report on Wednesday. Barclays reduced their price objective on shares of Corsair Gaming from $17.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus cut their price objective on shares of Corsair Gaming from $16.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Corsair Gaming currently has an average rating of “Moderate Buy” and a consensus target price of $10.60.

Corsair Gaming 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.