Corebridge Financial Inc. Reduces Stake in Corsair Gaming, Inc. (NASDAQ:CRSR)

Corebridge Financial Inc. lessened its stake in Corsair Gaming, Inc. (NASDAQ:CRSR) by 7.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,807 shares of the company’s stock after selling 1,851 shares during the quarter. Corebridge Financial Inc.’s holdings in Corsair Gaming were worth $157,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CRSR. FMR LLC lifted its position in shares of Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company’s stock valued at $34,000 after buying an additional 2,291 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Corsair Gaming by 220.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company’s stock worth $33,000 after purchasing an additional 3,414 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Corsair Gaming by 41.5% in the fourth 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 during the period. KLP Kapitalforvaltning AS bought a new position in Corsair Gaming in the 4th quarter worth approximately $50,000. Finally, Magnetar Financial LLC purchased a new position in Corsair Gaming in the 4th quarter valued at approximately $67,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Trading Up 2.3 %

NASDAQ CRSR opened at $6.33 on Tuesday. The stock’s 50-day simple moving average is $9.87 and its two-hundred day simple moving average is $8.22. Corsair Gaming, Inc. has a twelve month low of $5.60 and a twelve month high of $13.02. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $663.73 million, a price-to-earnings ratio of -6.66 and a beta of 1.68.

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

Analyst Ratings Changes

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

Insider Transactions at Corsair Gaming

In related news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction 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 transaction, the chief financial officer now directly owns 125,650 shares of the company’s stock, valued at $1,266,552. The trade was a 3.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 58.89% of the company’s stock.

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.