StepStone Group (NASDAQ:STEP) Announces Earnings Results

StepStone Group (NASDAQ:STEP) announced its earnings results on Thursday. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05, Briefing.com reports. The business had revenue of $177.36 million for the quarter, compared to the consensus estimate of $162.47 million. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share.

StepStone Group Trading Up 10.1 %

Shares of STEP opened at $41.71 on Friday. StepStone Group has a 12 month low of $19.83 and a 12 month high of $41.80. The firm’s fifty day simple moving average is $36.24 and its two-hundred day simple moving average is $32.94. The stock has a market capitalization of $4.60 billion, a P/E ratio of 46.34 and a beta of 1.23.

StepStone Group Cuts Dividend

The company also recently declared a Variable dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, June 14th. StepStone Group’s payout ratio is 93.33%.

Insider Activity at StepStone Group

In other StepStone Group news, Director Thomas Keck sold 3,694 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $35.47, for a total value of $131,026.18. Following the transaction, the director now directly owns 200,750 shares of the company’s stock, valued at $7,120,602.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. 19.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on STEP shares. TheStreet lowered StepStone Group from a “b-” rating to a “c+” rating in a research note on Friday, February 9th. Oppenheimer assumed coverage on StepStone Group in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $48.00 price target for the company. Barclays increased their price objective on shares of StepStone Group from $38.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Friday. JPMorgan Chase & Co. upgraded shares of StepStone Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $40.00 to $49.00 in a research report on Thursday, April 11th. Finally, UBS Group raised their price objective on StepStone Group from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $35.79.

About StepStone Group

StepStone Group LP. 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, private equity and buyout investments in mature and middle market companies.