Bank of America Corp DE Sells 226,910 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

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

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Corsair Gaming by 2.6% in the 4th 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 boosted its holdings in Corsair Gaming by 0.9% in 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 during the last quarter. New York State Common Retirement Fund increased its position in Corsair Gaming by 40.4% during 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 period. Invesco Ltd. raised its holdings in Corsair Gaming by 28.4% during 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 during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Corsair Gaming by 19.5% in 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 period. 25.66% of the stock is currently owned by institutional investors and hedge funds.

Corsair Gaming Stock Up 3.5%

CRSR stock traded up $0.32 during trading on Monday, reaching $9.37. 533,456 shares of the stock were exchanged, compared to its average volume of 762,672. The firm's 50 day moving average is $7.80 and its 200 day moving average is $8.57. The firm has a market cap of $991.54 million, a P/E ratio of -9.86 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 twelve month low of $5.60 and a twelve month high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its 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 return on equity of 4.62% and a negative net margin of 7.53%. The firm had revenue of $369.75 million for the quarter, compared to analyst estimates of $366.20 million. During the same period in the previous year, the company earned $0.09 earnings per share. Corsair Gaming's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts forecast that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Corsair Gaming

In other Corsair Gaming news, CFO Michael G. Potter sold 4,124 shares of Corsair Gaming stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total transaction of $41,569.92. Following the transaction, the chief financial officer now directly owns 125,650 shares of the company's stock, valued at $1,266,552. The trade was a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 58.38% of the company's stock.

Analysts Set New Price Targets

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