Bank of New York Mellon Corp Cuts Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

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

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

Analysts Set New Price Targets

CRSR has been the topic of a number of recent research reports. Wedbush reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Corsair Gaming in a research report on Monday, May 5th. Barclays cut their target price on Corsair Gaming from $12.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. The Goldman Sachs Group decreased their price objective on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Robert W. Baird set a $10.00 price target on Corsair Gaming in a report on Wednesday, May 7th. Finally, Wall Street Zen raised shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Corsair Gaming presently has an average rating of "Moderate Buy" and an average target price of $9.83.

Corsair Gaming Stock Performance

Shares of CRSR stock remained flat at $9.32 during trading hours on Friday. 354,894 shares of the stock traded hands, compared to its average volume of 463,054. The firm has a market cap of $986.24 million, a PE ratio of -10.02 and a beta of 1.77. Corsair Gaming, Inc. has a 12 month low of $5.59 and a 12 month high of $13.02. 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 company's 50-day moving average price is $9.23 and its two-hundred day moving average price is $9.03.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted 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). The company had revenue of $369.75 million for the quarter, compared to the consensus estimate of $366.20 million. Corsair Gaming had a negative return on equity of 4.65% and a negative net margin of 7.20%. The business's revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.09 earnings per share. Sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current 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.