Massachusetts Financial Services Co. MA Sells 2,474,439 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Massachusetts Financial Services Co. MA decreased its holdings in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) by 61.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,529,924 shares of the company's stock after selling 2,474,439 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.46% of Corsair Gaming worth $13,555,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC grew its holdings in shares of Corsair Gaming by 16.4% during the first quarter. Cerity Partners LLC now owns 14,333 shares of the company's stock worth $127,000 after buying an additional 2,016 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Corsair Gaming by 45.8% during the 4th quarter. Quadrant Capital Group LLC now owns 8,083 shares of the company's stock worth $53,000 after acquiring an additional 2,538 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Corsair Gaming by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,745 shares of the company's stock valued at $257,000 after buying an additional 2,789 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Corsair Gaming by 220.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,965 shares of the company's stock worth $33,000 after acquiring an additional 3,414 shares during the period. Finally, BNP Paribas acquired a new stake in shares of Corsair Gaming in the 4th quarter worth about $33,000. 25.66% of the stock is owned by institutional investors and hedge funds.

Corsair Gaming Trading Up 3.8%

Shares of NASDAQ CRSR traded up $0.35 during mid-day trading on Wednesday, hitting $9.66. The company's stock had a trading volume of 575,082 shares, compared to its average volume of 753,684. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -10.39 and a beta of 1.77. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 0.85. Corsair Gaming, Inc. has a one year low of $5.60 and a one year high of $13.02. The company's fifty day simple moving average is $9.20 and its 200-day simple moving average is $9.00.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). The company had revenue of $369.75 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. On average, sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.