Bank of New York Mellon Corp Sells 93,591 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Bank of New York Mellon Corp reduced its stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,180,822 shares of the company's stock after selling 93,591 shares during the quarter. Bank of New York Mellon Corp owned about 1.13% of Corsair Gaming worth $7,805,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in Corsair Gaming by 89.0% during the 3rd quarter. FMR LLC now owns 4,864 shares of the company's stock worth $34,000 after purchasing an additional 2,291 shares during the last quarter. GAMMA Investing LLC raised its stake in Corsair Gaming by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 6,716 shares of the company's stock worth $44,000 after buying an additional 1,971 shares during the last quarter. Intech Investment Management LLC bought a new position in Corsair Gaming during the third quarter worth $77,000. Glenmede Trust Co. NA acquired a new position in Corsair Gaming in the third quarter valued at $97,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Corsair Gaming during the third quarter valued at $108,000. 25.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRSR. Robert W. Baird lifted their price objective on Corsair Gaming from $8.00 to $11.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Wedbush reiterated an "outperform" rating and issued a $12.00 target price (up from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Finally, Barclays boosted their price target on Corsair Gaming from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.14.

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Corsair Gaming Stock Down 2.7 %

Corsair Gaming stock traded down $0.28 during midday trading on Tuesday, reaching $10.02. The stock had a trading volume of 656,355 shares, compared to its average volume of 606,959. The company has a fifty day moving average price of $10.05 and a two-hundred day moving average price of $7.96. Corsair Gaming, Inc. has a 12 month low of $5.60 and a 12 month high of $13.02. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $1.05 billion, a P/E ratio of -10.55 and a beta of 1.60.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.16 earnings per share 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 expect that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

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.