Entropy Technologies LP acquired a new stake in StepStone Group Inc. (NASDAQ:STEP - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,697 shares of the company's stock, valued at approximately $611,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in shares of StepStone Group in the first quarter valued at approximately $35,000. GAMMA Investing LLC increased its position in shares of StepStone Group by 38.5% in the first quarter. GAMMA Investing LLC now owns 1,169 shares of the company's stock valued at $61,000 after buying an additional 325 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of StepStone Group in the fourth quarter valued at approximately $65,000. CWM LLC increased its position in shares of StepStone Group by 14.0% in the first quarter. CWM LLC now owns 1,600 shares of the company's stock valued at $84,000 after buying an additional 196 shares in the last quarter. Finally, Vicus Capital increased its position in shares of StepStone Group by 9.8% in the first quarter. Vicus Capital now owns 4,020 shares of the company's stock valued at $210,000 after buying an additional 359 shares in the last quarter. 55.54% of the stock is currently owned by hedge funds and other institutional investors.
StepStone Group Trading Down 1.2%
NASDAQ STEP traded down $0.77 on Friday, reaching $61.46. 770,963 shares of the company were exchanged, compared to its average volume of 596,741. The business's fifty day moving average price is $58.14 and its 200 day moving average price is $56.15. The stock has a market capitalization of $7.16 billion, a P/E ratio of -19.95 and a beta of 1.37. StepStone Group Inc. has a fifty-two week low of $40.07 and a fifty-two week high of $70.38.
StepStone Group (NASDAQ:STEP - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.02). StepStone Group had a positive return on equity of 16.07% and a negative net margin of 17.10%. The company had revenue of $237.47 million for the quarter, compared to analyst estimates of $238.99 million. During the same period last year, the firm posted $0.48 EPS. The business's quarterly revenue was up 95.4% on a year-over-year basis. Equities research analysts forecast that StepStone Group Inc. will post 1.82 earnings per share for the current year.
StepStone Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $0.28 dividend. This is a boost from StepStone Group's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.8%. StepStone Group's dividend payout ratio is currently -36.36%.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the company. Barclays lifted their price target on StepStone Group from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. The Goldman Sachs Group lifted their price target on StepStone Group from $57.00 to $63.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $84.00 price target (up from $81.00) on shares of StepStone Group in a research note on Monday, August 11th. Finally, Evercore ISI lifted their price target on StepStone Group from $56.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $64.00.
Check Out Our Latest Report on StepStone Group
Insider Activity
In related news, insider Michael I. Mccabe sold 199,741 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $59.92, for a total value of $11,968,480.72. Following the sale, the insider owned 491,582 shares in the company, valued at approximately $29,455,593.44. The trade was a 28.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott W. Hart sold 27,697 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $60.06, for a total value of $1,663,481.82. Following the completion of the sale, the chief executive officer owned 80,000 shares in the company, valued at $4,804,800. This represents a 25.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 424,444 shares of company stock valued at $25,268,076 in the last quarter. Insiders own 16.47% of the company's stock.
StepStone Group Company Profile
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Free Report)
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.
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