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

Bank of New York Mellon Corp lessened its stake in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRSR. Massachusetts Financial Services Co. MA grew its stake in Corsair Gaming by 85.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,037,958 shares of the company's stock valued at $28,104,000 after acquiring an additional 1,857,532 shares in the last quarter. State Street Corp grew its position in shares of Corsair Gaming by 0.8% during the 3rd quarter. State Street Corp now owns 1,631,501 shares of the company's stock valued at $11,355,000 after purchasing an additional 12,373 shares in the last quarter. New York State Common Retirement Fund increased its holdings in shares of Corsair Gaming by 40.4% in the fourth quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock worth $4,884,000 after purchasing an additional 212,792 shares during the period. Principal Financial Group Inc. raised its position in shares of Corsair Gaming by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 218,742 shares of the company's stock worth $1,446,000 after buying an additional 7,351 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Corsair Gaming by 39.6% during the third quarter. Stifel Financial Corp now owns 214,564 shares of the company's stock valued at $1,493,000 after buying an additional 60,811 shares during the period. 25.66% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

CRSR has been the topic of several recent analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $12.00 price target (up previously from $10.00) on shares of Corsair Gaming in a report on Wednesday, February 5th. Robert W. Baird raised their target price on shares of Corsair Gaming from $8.00 to $11.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, Barclays boosted their price target on shares of Corsair Gaming from $9.00 to $12.00 and gave the stock 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $10.14.

Corsair Gaming Price Performance

Shares of Corsair Gaming stock traded down $0.28 on Monday, hitting $10.25. 272,285 shares of the company traded hands, compared to its average volume of 1,149,744. The firm's 50-day simple moving average is $9.95 and its 200 day simple moving average is $7.92. 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 cap of $1.07 billion, a P/E ratio of -10.79 and a beta of 1.60. Corsair Gaming, Inc. has a 12-month low of $5.59 and a 12-month high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued 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 net margin of 7.53% and a negative return on equity of 4.62%. Analysts expect that Corsair Gaming, Inc. will post 0.22 earnings per share 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.