Bank of New York Mellon Corp Decreases Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Bank of New York Mellon Corp decreased its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 approximately 1.13% of Corsair Gaming worth $7,805,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in Corsair Gaming by 89.0% during the third quarter. FMR LLC now owns 4,864 shares of the company's stock worth $34,000 after buying an additional 2,291 shares during the period. GAMMA Investing LLC increased its position 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 period. Intech Investment Management LLC acquired a new position in shares of Corsair Gaming in the third quarter valued at approximately $77,000. Glenmede Trust Co. NA acquired a new position in shares of Corsair Gaming in the third quarter valued at approximately $97,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Corsair Gaming in the third quarter valued at approximately $108,000. Institutional investors and hedge funds own 25.66% of the company's stock.

Corsair Gaming Price Performance

CRSR stock traded down $0.06 on Tuesday, reaching $10.24. 58,741 shares of the company's stock were exchanged, compared to its average volume of 603,439. The stock has a fifty day moving average of $10.01 and a 200-day moving average of $7.94. Corsair Gaming, Inc. has a twelve month low of $5.60 and a twelve month high of $13.02. The firm has a market cap of $1.07 billion, a PE ratio of -10.78 and a beta of 1.60. The company has a quick ratio of 0.92, a current ratio of 1.57 and a debt-to-equity ratio of 0.27.

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Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its 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 predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CRSR shares. Barclays boosted their target price on Corsair Gaming from $9.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Wedbush reissued an "outperform" rating and issued a $12.00 target price (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Finally, Robert W. Baird upped their price objective on Corsair Gaming from $8.00 to $11.00 and gave the stock a "neutral" rating in a report 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. According to data from MarketBeat, Corsair Gaming has a consensus rating of "Moderate Buy" and an average target price of $10.14.

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.