StepStone Group (NASDAQ:STEP) Stock Price Up 6.5% – What’s Next?

StepStone Group Inc. (NASDAQ:STEP)’s share price was up 6.5% on Tuesday . The company traded as high as $49.17 and last traded at $49.1350. 620,601 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,286,815 shares. The stock had previously closed at $46.15.

Wall Street Analyst Weigh In

STEP has been the subject of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $58.00 price objective on shares of StepStone Group in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of StepStone Group in a research report on Monday, July 20th. Barclays upped their price target on StepStone Group from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer dropped their price target on shares of StepStone Group from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Finally, Morgan Stanley cut their price objective on shares of StepStone Group from $72.00 to $63.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 21st. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, StepStone Group currently has an average rating of “Moderate Buy” and a consensus target price of $70.88.

StepStone Group Price Performance

The firm has a market capitalization of $5.90 billion, a PE ratio of -6.40 and a beta of 1.27. The company has a current ratio of 0.09, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $43.88 and a two-hundred day moving average price of $49.99.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $300.60 million for the quarter, compared to analysts’ expectations of $309.32 million. StepStone Group had a positive return on equity of 43.38% and a negative net margin of 30.53%. Sell-side analysts forecast that StepStone Group Inc. will post 2.54 earnings per share for the current year.

StepStone Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from StepStone Group’s previous quarterly dividend of $0.28. The ex-dividend date is Monday, August 31st. StepStone Group’s payout ratio is -14.51%.

Insider Buying and Selling

In other StepStone Group news, insider Michael I. Mccabe purchased 120,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $41.85 per share, for a total transaction of $5,022,000.00. Following the purchase, the insider directly owned 433,178 shares in the company, valued at approximately $18,128,499.30. This trade represents a 38.32% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jose A. Fernandez sold 100,000 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $48.60, for a total transaction of $4,860,000.00. Following the transaction, the chief operating officer directly owned 102,290 shares in the company, valued at $4,971,294. The trade was a 49.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On StepStone Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC boosted its stake in shares of StepStone Group by 105.0% during the fourth quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after buying an additional 212 shares during the period. Essential Partners LLC increased its position in StepStone Group by 17,350.0% in the 1st quarter. Essential Partners LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 694 shares during the period. Quarry LP raised its stake in StepStone Group by 155.7% during the 3rd quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after acquiring an additional 313 shares during the last quarter. Fifth Third Bancorp raised its stake in StepStone Group by 58.6% during the 4th quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock valued at $35,000 after acquiring an additional 201 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in StepStone Group during the 2nd quarter worth approximately $46,000. 55.54% of the stock is owned by hedge funds and other institutional investors.

About StepStone Group

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.