Bamco Inc. NY Sells 25,188 Shares of StepStone Group LP (NASDAQ:STEP)

Bamco Inc. NY cut its stake in StepStone Group LP (NASDAQ:STEP - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,515 shares of the company's stock after selling 25,188 shares during the period. Bamco Inc. NY owned approximately 0.12% of StepStone Group worth $8,133,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC raised its position in StepStone Group by 368.2% in the 3rd quarter. Barclays PLC now owns 112,019 shares of the company's stock valued at $6,366,000 after buying an additional 88,095 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of StepStone Group during the 4th quarter worth approximately $388,000. Cibc World Markets Corp acquired a new stake in shares of StepStone Group in the fourth quarter valued at approximately $355,000. Proficio Capital Partners LLC bought a new stake in shares of StepStone Group in the fourth quarter worth $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of StepStone Group in the fourth quarter worth $331,000. Institutional investors and hedge funds own 55.54% of the company's stock.

StepStone Group Stock Performance

STEP traded up $0.58 on Wednesday, reaching $53.57. The company had a trading volume of 280,011 shares, compared to its average volume of 669,390. The company's fifty day moving average is $50.94 and its 200 day moving average is $58.19. The stock has a market cap of $6.21 billion, a P/E ratio of -31.70 and a beta of 1.37. StepStone Group LP has a fifty-two week low of $36.97 and a fifty-two week high of $70.38.

Analyst Ratings Changes

Several equities research analysts have commented on STEP shares. Evercore ISI boosted their price target on shares of StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Barclays reduced their price target on StepStone Group from $69.00 to $48.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Morgan Stanley cut their price objective on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Finally, Oppenheimer set a $67.00 price target on shares of StepStone Group and gave the stock an "outperform" rating in a research report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $61.64.

Insider Activity

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of StepStone Group stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $61.43, for a total value of $614,300.00. Following the completion of the sale, the chief executive officer now owns 110,000 shares in the company, valued at $6,757,300. The trade was a 8.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Anthony Keathley sold 538 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $63.00, for a total transaction of $33,894.00. Following the transaction, the chief accounting officer now owns 1,386 shares in the company, valued at approximately $87,318. The trade was a 27.96 % decrease in their position. The disclosure for this sale can be found here. 18.44% of the stock is owned by company insiders.

StepStone Group Profile

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