Laurion Capital Management LP Lowers Holdings in StepStone Group Inc. (NASDAQ:STEP)

Laurion Capital Management LP decreased its position in StepStone Group Inc. (NASDAQ:STEP) by 46.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 51,444 shares of the company’s stock after selling 44,244 shares during the period. Laurion Capital Management LP owned 0.05% of StepStone Group worth $1,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Shell Asset Management Co. purchased a new stake in shares of StepStone Group in the second quarter valued at approximately $60,000. Royal Bank of Canada boosted its holdings in shares of StepStone Group by 109.8% in the first quarter. Royal Bank of Canada now owns 1,907 shares of the company’s stock valued at $68,000 after purchasing an additional 998 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of StepStone Group by 79.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,928 shares of the company’s stock valued at $101,000 after purchasing an additional 1,300 shares during the period. Islay Capital Management LLC purchased a new stake in shares of StepStone Group in the second quarter valued at approximately $112,000. Finally, SG Americas Securities LLC boosted its holdings in shares of StepStone Group by 30.5% in the first quarter. SG Americas Securities LLC now owns 3,368 shares of the company’s stock valued at $119,000 after purchasing an additional 788 shares during the period. Hedge funds and other institutional investors own 42.01% of the company’s stock.

StepStone Group stock traded up $1.21 during mid-day trading on Thursday, reaching $42.72. 2,557 shares of the company were exchanged, compared to its average volume of 319,877. The business has a fifty day moving average of $45.22 and a 200 day moving average of $38.83. The firm has a market cap of $4.05 billion and a P/E ratio of 13.30. StepStone Group Inc. has a 12-month low of $24.48 and a 12-month high of $49.72.

StepStone Group (NASDAQ:STEP) last posted its earnings results on Tuesday, August 10th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.19. The company had revenue of $136.20 million during the quarter, compared to analyst estimates of $94.84 million. StepStone Group had a return on equity of 18.57% and a net margin of 9.01%. StepStone Group’s revenue was up 83.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities research analysts predict that StepStone Group Inc. will post 1.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Tuesday, August 31st were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Monday, August 30th. StepStone Group’s payout ratio is presently 32.18%.

In related news, Director Steven R. Mitchell sold 9,290 shares of the company’s stock in a transaction on Monday, September 27th. The stock was sold at an average price of $44.70, for a total value of $415,263.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven R. Mitchell sold 7,865 shares of the company’s stock in a transaction on Wednesday, September 29th. The shares were sold at an average price of $43.55, for a total value of $342,520.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,067 shares of company stock worth $2,451,056. Insiders own 35.34% of the company’s stock.

A number of brokerages recently issued reports on STEP. Zacks Investment Research lowered StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley upped their target price on StepStone Group from $52.00 to $56.00 and gave the stock an “overweight” rating in a report on Thursday, August 12th.

StepStone Group Profile

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.

Further Reading: Strike Price

Want to see what other hedge funds are holding STEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for StepStone Group Inc. (NASDAQ:STEP).

Institutional Ownership by Quarter for StepStone Group (NASDAQ:STEP)

Receive News & Ratings for StepStone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StepStone Group and related companies with MarketBeat.com's FREE daily email newsletter.