GAMMA Investing LLC Buys 60,213 Shares of StepStone Group LP (NASDAQ:STEP)

GAMMA Investing LLC lifted its holdings in StepStone Group LP (NASDAQ:STEP - Free Report) by 7,134.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,057 shares of the company's stock after acquiring an additional 60,213 shares during the quarter. GAMMA Investing LLC owned approximately 0.05% of StepStone Group worth $3,189,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Amundi lifted its holdings in StepStone Group by 26.7% during the 4th quarter. Amundi now owns 730 shares of the company's stock worth $42,000 after buying an additional 154 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in StepStone Group by 1.7% during the 4th quarter. Mutual of America Capital Management LLC now owns 9,578 shares of the company's stock worth $554,000 after buying an additional 157 shares in the last quarter. Blue Trust Inc. lifted its holdings in StepStone Group by 25.5% during the 4th quarter. Blue Trust Inc. now owns 1,079 shares of the company's stock worth $61,000 after buying an additional 219 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in StepStone Group by 1.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 30,600 shares of the company's stock worth $1,771,000 after buying an additional 300 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in StepStone Group during the 4th quarter worth $27,000. 55.54% of the stock is owned by institutional investors and hedge funds.

StepStone Group Stock Performance

Shares of NASDAQ STEP traded down $2.52 during midday trading on Friday, reaching $53.86. The company's stock had a trading volume of 607,967 shares, compared to its average volume of 682,102. StepStone Group LP has a fifty-two week low of $40.07 and a fifty-two week high of $70.38. The business's 50 day moving average price is $53.70 and its two-hundred day moving average price is $57.03. The company has a market cap of $6.27 billion, a P/E ratio of -31.87 and a beta of 1.40.

StepStone Group (NASDAQ:STEP - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.24. The business had revenue of $295.86 million for the quarter, compared to analysts' expectations of $231.87 million. StepStone Group had a negative net margin of 11.29% and a positive return on equity of 12.04%. The firm's quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. Sell-side analysts forecast that StepStone Group LP will post 1.82 earnings per share for the current fiscal year.

StepStone Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. The ex-dividend date is Friday, June 13th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.78%. StepStone Group's dividend payout ratio (DPR) is presently -40.17%.

Wall Street Analysts Forecast Growth

STEP has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Oppenheimer set a $67.00 price target on StepStone Group and gave the company an "outperform" rating in a research note on Wednesday, April 16th. Morgan Stanley cut their price target on StepStone Group from $66.00 to $51.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th. Finally, Barclays set a $62.00 price target on StepStone Group and gave the company an "equal weight" rating in a research note on Tuesday, May 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, StepStone Group presently has an average rating of "Hold" and an average price target of $62.57.

Insider Activity at StepStone Group

In related news, CEO Scott W. Hart sold 900 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $60.01, for a total value of $54,009.00. Following the transaction, the chief executive officer now owns 109,100 shares in the company, valued at $6,547,091. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason P. Ment sold 55,608 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $60.71, for a total transaction of $3,375,961.68. Following the transaction, the insider now owns 34,155 shares in the company, valued at $2,073,550.05. This represents a 61.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 338,426 shares of company stock worth $20,325,626 over the last quarter. Company insiders own 18.44% of the company's stock.

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.