Ameriprise Financial Inc. Sells 41,798 Shares of Corsair Gaming, Inc. (NASDAQ:CRSR)

Ameriprise Financial Inc. lessened its holdings in shares of Corsair Gaming, Inc. (NASDAQ:CRSR) by 28.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,636 shares of the company’s stock after selling 41,798 shares during the quarter. Ameriprise Financial Inc. owned about 0.10% of Corsair Gaming worth $678,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CRSR. Vontobel Holding Ltd. boosted its position in shares of Corsair Gaming by 133.0% in the fourth quarter. Vontobel Holding Ltd. now owns 70,109 shares of the company’s stock valued at $463,000 after acquiring an additional 40,015 shares during the period. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 148,674 shares during the period. Bank of Montreal Can bought a new position in shares of Corsair Gaming in the fourth quarter valued at approximately $912,000. Invesco Ltd. boosted its position in shares of Corsair Gaming by 28.4% in the fourth quarter. Invesco Ltd. now owns 578,749 shares of the company’s stock valued at $3,826,000 after acquiring an additional 127,948 shares during the period. Finally, Intech Investment Management LLC boosted its position in shares of Corsair Gaming by 1,051.0% in the fourth quarter. Intech Investment Management LLC now owns 127,647 shares of the company’s stock valued at $844,000 after acquiring an additional 116,557 shares during the period. Institutional investors own 25.66% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael G. Potter sold 4,124 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $10.08, for a total value of $41,569.92. Following the transaction, the chief financial officer now owns 125,650 shares in the company, valued at $1,266,552. The trade was a 3.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 58.89% of the stock is currently owned by company insiders.

Corsair Gaming Stock Performance

Shares of Corsair Gaming stock opened at $9.11 on Wednesday. The stock has a market cap of $964.03 million, a price-to-earnings ratio of -9.59 and a beta of 1.70. The firm’s 50-day moving average is $7.56 and its 200 day moving average is $8.43. Corsair Gaming, Inc. has a 1 year low of $5.60 and a 1 year high of $13.02. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.57 and a quick ratio of 0.92.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings results 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 firm had revenue of $369.75 million during the quarter, compared to the consensus estimate of $366.20 million. Corsair Gaming had a negative return on equity of 4.62% and a negative net margin of 7.53%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 EPS. Sell-side analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRSR has been the subject of a number of analyst reports. Barclays cut their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. The Goldman Sachs Group dropped their target price on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Robert W. Baird set a $10.00 target price on shares of Corsair Gaming in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of 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 set a $13.00 target price on shares of Corsair Gaming in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Corsair Gaming presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

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.