StepStone Group LP (NASDAQ:STEP - Get Free Report) insider Jason P. Ment sold 900 shares of the stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $60.00, for a total value of $54,000.00. Following the completion of the sale, the insider now directly owns 89,763 shares of the company's stock, valued at approximately $5,385,780. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
StepStone Group Trading Down 2.2%
Shares of STEP stock traded down $1.31 during trading on Friday, hitting $57.81. The company's stock had a trading volume of 776,842 shares, compared to its average volume of 686,235. The company has a market cap of $6.70 billion, a PE ratio of -34.21 and a beta of 1.37. The business has a fifty day moving average of $52.32 and a 200-day moving average of $57.69. StepStone Group LP has a 52 week low of $40.07 and a 52 week high of $70.38.
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 for the quarter, beating the consensus estimate of $0.44 by $0.24. StepStone Group had a positive return on equity of 12.04% and a negative net margin of 11.29%. The business had revenue of $295.86 million during the quarter, compared to analyst estimates of $231.87 million. During the same period in the prior year, the company earned $0.33 earnings per share. StepStone Group's revenue was up 66.8% compared to the same quarter last year. As a group, research analysts predict that StepStone Group LP will post 1.82 EPS for the current year.
StepStone Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, June 13th. StepStone Group's dividend payout ratio (DPR) is -40.17%.
Hedge Funds Weigh In On StepStone Group
Institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC grew its holdings in StepStone Group by 368.2% during the third quarter. Barclays PLC now owns 112,019 shares of the company's stock valued at $6,366,000 after purchasing an additional 88,095 shares during the period. Oppenheimer & Co. Inc. bought a new position in StepStone Group during the fourth quarter valued at $388,000. Cibc World Markets Corp bought a new position in StepStone Group during the fourth quarter valued at $355,000. Proficio Capital Partners LLC bought a new position in StepStone Group during the fourth quarter valued at $941,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in StepStone Group during the fourth quarter valued at $331,000. 55.54% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. Evercore ISI increased their price objective on StepStone Group from $63.00 to $69.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Morgan Stanley reduced their target price 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. The Goldman Sachs Group upped their target price on StepStone Group from $57.00 to $63.00 and gave the company a "neutral" rating in a report on Wednesday. Barclays set a $62.00 target price on StepStone Group and gave the company an "equal weight" rating in a report on Tuesday. Finally, Oppenheimer set a $67.00 target price on StepStone Group and gave the company an "outperform" rating in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $62.57.
Check Out Our Latest Stock Report on STEP
About StepStone Group
(
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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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