StepStone Group (NASDAQ:STEP) Announces Earnings Results

StepStone Group (NASDAQ:STEP – Get Rating) released its earnings results on Wednesday. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04), Briefing.com reports. The business had revenue of $152.94 million during the quarter, compared to the consensus estimate of $145.36 million. During the same period in the prior year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year.

StepStone Group Trading Up 1.7 %

STEP traded up $0.36 during midday trading on Friday, hitting $21.50. The company’s stock had a trading volume of 10,886 shares, compared to its average volume of 288,919. The firm has a market cap of $2.35 billion, a P/E ratio of -68.19 and a beta of 1.36. The firm has a 50-day moving average price of $22.74 and a two-hundred day moving average price of $26.35. StepStone Group has a 52-week low of $19.83 and a 52-week high of $32.12.

StepStone Group Dividend Announcement

The firm also recently declared a Variable dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be issued a $0.45 dividend. The ex-dividend date is Wednesday, June 14th. StepStone Group’s dividend payout ratio (DPR) is -258.06%.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CAO David Y. Park sold 2,400 shares of StepStone Group stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $28.52, for a total value of $68,448.00. Following the completion of the sale, the chief accounting officer now owns 31,864 shares in the company, valued at approximately $908,761.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 20.01% of the stock is owned by company insiders.

Hedge Funds Weigh In On StepStone Group

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of StepStone Group by 5.3% in the 1st quarter. JPMorgan Chase & Co. now owns 4,297,392 shares of the company’s stock valued at $104,298,000 after purchasing an additional 215,867 shares in the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of StepStone Group by 1.3% in the 1st quarter. Segall Bryant & Hamill LLC now owns 282,409 shares of the company’s stock valued at $6,854,000 after purchasing an additional 3,538 shares in the last quarter. State Street Corp lifted its stake in shares of StepStone Group by 9.7% in the 1st quarter. State Street Corp now owns 1,127,070 shares of the company’s stock valued at $27,354,000 after purchasing an additional 99,803 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of StepStone Group by 4.7% in the 1st quarter. Geode Capital Management LLC now owns 1,028,480 shares of the company’s stock valued at $24,961,000 after purchasing an additional 45,843 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of StepStone Group by 27.1% in the 1st quarter. Schonfeld Strategic Advisors LLC now owns 824,800 shares of the company’s stock valued at $20,018,000 after purchasing an additional 176,000 shares in the last quarter. 93.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on STEP. Morgan Stanley reduced their target price on StepStone Group from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Wednesday, April 19th. Barclays cut their price target on StepStone Group from $26.00 to $25.00 in a research note on Thursday. The Goldman Sachs Group lifted their price target on StepStone Group from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. TheStreet downgraded StepStone Group from a “c-” rating to a “d+” rating in a research note on Thursday, May 4th. Finally, JPMorgan Chase & Co. cut their price target on StepStone Group from $37.00 to $36.00 and set a “neutral” rating for the company in a research note on Monday, February 13th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, StepStone Group has a consensus rating of “Hold” and a consensus price target of $32.80.

StepStone Group Company Profile

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StepStone Group Inc is an investment firm specializing in direct, fund of funds, secondary direct, and secondary indirect investments. For direct investment, it seeks to invest in venture debt, incubation, mezzanine, distressed/vulture, seed/startup, early venture, mid venture, late venture, emerging growth, later stage, turnaround, growth capital, industry consolidation, recapitalization, and buyout investments in mature and middle market companies.