Main Management ETF Advisors LLC Decreases Stock Position in Corsair Gaming, Inc. (NASDAQ:CRSR)

Main Management ETF Advisors LLC cut its position in Corsair Gaming, Inc. (NASDAQ:CRSR) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 96,832 shares of the company’s stock after selling 8,704 shares during the quarter. Main Management ETF Advisors LLC owned 0.09% of Corsair Gaming worth $640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake 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 purchasing an additional 148,674 shares during the period. Geode Capital Management LLC boosted its stake in Corsair Gaming by 0.9% during the 4th 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 boosted its stake 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 acquiring an additional 212,792 shares during the last quarter. Invesco Ltd. boosted its stake in Corsair Gaming by 28.4% during the 4th 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 last quarter. Finally, Northern Trust Corp boosted its stake in Corsair Gaming by 19.5% during the 4th quarter. Northern Trust Corp now owns 490,622 shares of the company’s stock valued at $3,243,000 after acquiring an additional 80,012 shares during the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Corsair Gaming Stock Down 0.8%

Shares of NASDAQ:CRSR opened at $8.74 on Thursday. The stock has a market capitalization of $924.88 million, a price-to-earnings ratio of -9.20 and a beta of 1.70. Corsair Gaming, Inc. has a 1-year low of $5.60 and a 1-year high of $13.02. The company’s fifty day moving average is $8.00 and its two-hundred day moving average is $8.24. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.92 and a current ratio of 1.57.

Corsair Gaming (NASDAQ:CRSR) 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 business had revenue of $369.75 million for the quarter, compared to analyst estimates of $366.20 million. During the same period last year, the company posted $0.09 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts anticipate that Corsair Gaming, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael G. Potter sold 4,124 shares of the 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 sale, the chief financial officer now owns 125,650 shares of the company’s stock, valued at $1,266,552. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 58.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on CRSR shares. Robert W. Baird set a $10.00 price objective on shares of Corsair Gaming in a research note on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on shares of Corsair Gaming from $11.00 to $8.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. Barclays reduced their price objective 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. Finally, Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

About Corsair Gaming

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.