StepStone Group (NASDAQ:STEP) Posts Earnings Results

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

StepStone Group Stock Down 3.4 %

Shares of StepStone Group stock opened at $21.14 on Friday. StepStone Group has a 52-week low of $19.83 and a 52-week high of $32.12. The company has a 50 day moving average of $22.74 and a 200 day moving average of $26.35. The company has a market capitalization of $2.31 billion, a P/E ratio of -68.19 and a beta of 1.36.

StepStone Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STEP shares. TheStreet cut shares of StepStone Group from a “c-” rating to a “d+” rating in a research report on Thursday, May 4th. Morgan Stanley lowered their price objective on shares of StepStone Group from $30.00 to $28.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 19th. Barclays lowered their price objective on shares of StepStone Group from $26.00 to $25.00 in a research note on Thursday. The Goldman Sachs Group raised their price objective on shares of StepStone Group from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, February 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $32.80.

Insider Buying and Selling

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

Institutional Trading of StepStone Group

Several institutional investors have recently modified their holdings of STEP. American International Group Inc. increased its holdings in shares of StepStone Group by 1.7% in the 4th quarter. American International Group Inc. now owns 25,732 shares of the company’s stock valued at $648,000 after acquiring an additional 434 shares during the period. Ensign Peak Advisors Inc increased its holdings in shares of StepStone Group by 67.1% in the 3rd quarter. Ensign Peak Advisors Inc now owns 1,170 shares of the company’s stock valued at $29,000 after acquiring an additional 470 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of StepStone Group by 57.5% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,389 shares of the company’s stock valued at $34,000 after acquiring an additional 507 shares during the period. Amalgamated Bank increased its holdings in shares of StepStone Group by 7.4% in the 4th quarter. Amalgamated Bank now owns 9,156 shares of the company’s stock valued at $231,000 after acquiring an additional 629 shares during the period. Finally, Credit Suisse AG increased its holdings in shares of StepStone Group by 1.9% in the 2nd quarter. Credit Suisse AG now owns 38,427 shares of the company’s stock valued at $1,000,000 after acquiring an additional 708 shares during the period. Hedge funds and other institutional investors own 93.82% of the company’s stock.

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.