Bank of New York Mellon Corp Sells 292,164 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Bank of New York Mellon Corp lessened its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 24.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 888,658 shares of the company's stock after selling 292,164 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.85% of Corsair Gaming worth $7,874,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRSR. Palisade Capital Management LP increased its position in Corsair Gaming by 3.5% during the 1st quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock valued at $21,410,000 after purchasing an additional 81,376 shares during the period. Principal Financial Group Inc. lifted its position in shares of Corsair Gaming by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 224,338 shares of the company's stock worth $1,988,000 after purchasing an additional 5,596 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Corsair Gaming by 40.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,358 shares of the company's stock valued at $172,000 after purchasing an additional 5,614 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Corsair Gaming by 76.8% during the first quarter. GAMMA Investing LLC now owns 11,874 shares of the company's stock valued at $105,000 after buying an additional 5,158 shares during the period. Finally, PharVision Advisers LLC bought a new position in Corsair Gaming in the fourth quarter worth about $128,000. Hedge funds and other institutional investors own 25.66% of the company's stock.

Wall Street Analysts Forecast Growth

CRSR has been the topic of several research reports. Wall Street Zen raised Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. The Goldman Sachs Group lowered 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. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a report on Monday, May 5th. Finally, Barclays lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $9.83.

Corsair Gaming Stock Performance

Shares of CRSR remained flat at $9.32 during mid-day trading on Friday. The stock had a trading volume of 354,894 shares, compared to its average volume of 463,054. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.85. The stock has a market capitalization of $986.25 million, a P/E ratio of -10.02 and a beta of 1.77. The stock's 50 day moving average is $9.23 and its 200-day moving average is $9.02. 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 announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Corsair Gaming had a negative net margin of 7.20% and a negative return on equity of 4.65%. The company had revenue of $369.75 million for the quarter, compared to analysts' expectations of $366.20 million. During the same quarter in the previous year, the firm posted $0.09 EPS. The firm's quarterly revenue 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 earnings per share for the current fiscal year.

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.