Ameriprise Financial Inc. Sells 41,798 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Ameriprise Financial Inc. lowered its stake in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,636 shares of the company's stock after selling 41,798 shares during the quarter. Ameriprise Financial Inc. owned about 0.10% of Corsair Gaming worth $678,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Alyeska Investment Group L.P. purchased a new stake in Corsair Gaming during the 4th quarter worth approximately $1,503,000. Northern Trust Corp increased its holdings in Corsair Gaming by 19.5% during the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company's stock worth $3,243,000 after purchasing an additional 80,012 shares during the last quarter. Quarry LP purchased a new stake in Corsair Gaming during the 4th quarter worth approximately $34,000. Price T Rowe Associates Inc. MD increased its holdings in Corsair Gaming by 7.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company's stock worth $257,000 after purchasing an additional 2,789 shares during the last quarter. Finally, Stifel Financial Corp increased its holdings in Corsair Gaming by 7.0% during the 4th quarter. Stifel Financial Corp now owns 229,507 shares of the company's stock worth $1,517,000 after purchasing an additional 14,943 shares during the last quarter. Institutional investors and hedge funds own 25.66% of the company's stock.

Corsair Gaming Trading Down 0.7%

Shares of Corsair Gaming stock traded down $0.06 on Thursday, reaching $9.05. 502,298 shares of the company were exchanged, compared to its average volume of 753,075. The stock has a fifty day moving average price of $7.56 and a 200-day moving average price of $8.44. The firm has a market capitalization of $957.68 million, a price-to-earnings ratio of -9.53 and a beta of 1.77. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 0.27. Corsair Gaming, Inc. has a fifty-two week low of $5.60 and a fifty-two week high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.53% and a negative return on equity of 4.62%. The business had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The business's quarterly revenue was up 9.6% compared to the same quarter last year. On average, analysts expect that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Insider Activity

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $10.08, for a total value of $41,569.92. Following the transaction, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. The trade was a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 58.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRSR shares. The Goldman Sachs Group dropped their price objective on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Wall Street Zen lowered Corsair Gaming from a "buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Wedbush reiterated an "outperform" rating and issued a $13.00 target price on shares of Corsair Gaming in a research report on Monday, May 5th. Barclays decreased their target price on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. Finally, Robert W. Baird set a $10.00 target price on Corsair Gaming in a research report on Wednesday, May 7th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.00.

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.