Bank of America Corp DE Decreases Stake in Corsair Gaming, Inc. (NASDAQ:CRSR)

Bank of America Corp DE lessened its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 88.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,404 shares of the company's stock after selling 226,910 shares during the period. Bank of America Corp DE's holdings in Corsair Gaming were worth $194,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Corsair Gaming by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 5,813,359 shares of the company's stock valued at $38,426,000 after buying an additional 148,674 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Corsair Gaming by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,069,122 shares of the company's stock valued at $7,069,000 after acquiring an additional 9,344 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Corsair Gaming by 40.4% in the 4th quarter. New York State Common Retirement Fund now owns 738,922 shares of the company's stock valued at $4,884,000 after purchasing an additional 212,792 shares during the last quarter. Invesco Ltd. boosted its stake in Corsair Gaming by 28.4% in the 4th quarter. Invesco Ltd. now owns 578,749 shares of the company's stock worth $3,826,000 after purchasing an additional 127,948 shares in the last quarter. Finally, Northern Trust Corp grew its position 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. Institutional investors and hedge funds own 25.66% of the company's stock.

Corsair Gaming Stock Performance

NASDAQ CRSR traded up $0.11 on Thursday, reaching $9.21. 414,003 shares of the company's stock traded hands, compared to its average volume of 763,717. The stock has a 50 day moving average price of $7.95 and a 200-day moving average price of $8.59. The firm has a market cap of $974.61 million, a price-to-earnings ratio of -9.90 and a beta of 1.77. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.52. 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 posted its earnings results on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The firm had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The company's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Equities research analysts predict that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Corsair Gaming

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.