StepStone Group (NASDAQ:STEP) Posts Earnings Results, Misses Expectations By $0.04 EPS

StepStone Group (NASDAQ:STEP – Get Rating) issued its quarterly earnings data on Wednesday. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04), Briefing.com reports. The firm had revenue of $152.94 million for the quarter, compared to analyst estimates of $145.36 million. StepStone Group’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 earnings per share.

StepStone Group Stock Performance

StepStone Group stock opened at $21.89 on Thursday. The company’s fifty day moving average price is $22.81 and its 200 day moving average price is $26.39. The stock has a market capitalization of $2.39 billion, a P/E ratio of -273.63 and a beta of 1.36. StepStone Group has a 1 year low of $20.75 and a 1 year high of $32.12.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STEP. TheStreet cut shares of StepStone Group from a “c-” rating to a “d+” rating in a research note on Thursday, May 4th. Morgan Stanley dropped their price objective on shares of StepStone Group from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 19th. The Goldman Sachs Group raised their price objective on shares of StepStone Group from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of StepStone Group from $37.00 to $36.00 and set a “neutral” rating on the stock in a research note on Monday, February 13th. Finally, Barclays dropped their price target on shares of StepStone Group from $26.00 to $25.00 in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, StepStone Group currently has an average rating of “Hold” and a consensus target price of $32.80.

Insider Buying and Selling at StepStone Group

In other StepStone Group news, CAO David Y. Park sold 2,400 shares of the firm’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $28.52, for a total value of $68,448.00. Following the transaction, the chief accounting officer now owns 31,864 shares in the company, valued at approximately $908,761.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 20.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in StepStone Group in the 1st quarter valued at $36,000. Ensign Peak Advisors Inc raised its holdings in shares of StepStone Group by 67.1% during the 3rd quarter. Ensign Peak Advisors Inc now owns 1,170 shares of the company’s stock worth $29,000 after acquiring an additional 470 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of StepStone Group by 57.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,389 shares of the company’s stock worth $34,000 after acquiring an additional 507 shares during the period. Captrust Financial Advisors raised its holdings in shares of StepStone Group by 5,132.1% during the 2nd quarter. Captrust Financial Advisors now owns 1,465 shares of the company’s stock worth $38,000 after acquiring an additional 1,437 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of StepStone Group by 21.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock worth $250,000 after acquiring an additional 1,332 shares during the period. Hedge funds and other institutional investors own 93.82% of the company’s stock.

About StepStone Group

(Get Rating)

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