StepStone Group (NASDAQ:STEP) Stock Crosses Below 200 Day Moving Average - Here's Why

Key Points

• StepStone shares fell below their 200-day moving average, trading as low as $46.84 and last at $47.48, versus a 200-day average of $48.39.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $66.78; ratings range from eight Buys to two Holds and one Sell.
• StepStone beat quarterly earnings and revenue estimates, reporting $0.66 EPS and $362.71 million in revenue. The company also announced a quarterly dividend of $0.33 per share, equivalent to a 2.8% annualized yield.

StepStone Group Inc. (NASDAQ:STEP - Get Free Report) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $48.39 and traded as low as $46.84. StepStone Group shares last traded at $47.48, with a volume of 1,018,868 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Oppenheimer cut their target price on StepStone Group from $90.00 to $88.00 and set an "outperform" rating for the company in a research report on Thursday, August 27th. Weiss Ratings reissued a "sell (d-)" rating on shares of StepStone Group in a research note on Friday, October 16th. UBS Group boosted their price target on StepStone Group from $63.00 to $69.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Morgan Stanley set a $61.00 price target on StepStone Group in a research note on Friday, October 16th. Finally, Barclays increased their price objective on shares of StepStone Group from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, November 6th. Eight investment 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.78.

StepStone Group Stock Performance

The company has a market capitalization of $5.67 billion, a P/E ratio of -12.08 and a beta of 1.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.19 and a current ratio of 0.18. The business's fifty day simple moving average is $45.46 and its 200-day simple moving average is $48.39.

StepStone Group (NASDAQ:STEP - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.55 by $0.11. The business had revenue of $362.71 million during the quarter, compared to the consensus estimate of $324.84 million. StepStone Group had a negative net margin of 13.68% and a positive return on equity of 36.09%. As a group, equities analysts anticipate that StepStone Group Inc. will post 2.60 earnings per share for the current fiscal year.

StepStone Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Monday, November 30th. StepStone Group's payout ratio is currently -33.59%.

Hedge Funds Weigh In On StepStone Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its stake in StepStone Group by 797.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 592 shares of the company's stock worth $26,000 after acquiring an additional 526 shares during the last quarter. Essential Partners LLC raised its holdings in shares of StepStone Group by 17,350.0% during the 1st quarter. Essential Partners LLC now owns 698 shares of the company's stock worth $33,000 after acquiring an additional 694 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of StepStone Group by 45.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,036 shares of the company's stock worth $45,000 after acquiring an additional 324 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its holdings in shares of StepStone Group by 224.3% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,255 shares of the company's stock worth $54,000 after acquiring an additional 868 shares in the last quarter. Finally, Fulcrum Asset Management LLP bought a new position in shares of StepStone Group during the 3rd quarter valued at approximately $65,000. 55.54% of the stock is owned by institutional investors.

StepStone Group Company Profile

StepStone Group Inc. is a global investment firm focused on private markets. The company helps institutional and other investors build and manage portfolios across private equity, private debt, infrastructure, and real estate. Its services include selecting and monitoring investments in private-market funds, making direct investments in companies and assets, and advising clients on portfolio strategy. StepStone also provides investment research and data services to support its work. Founded in 2007, StepStone serves clients including pension funds, sovereign wealth funds, insurance companies, endowments, foundations, and family offices.

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