StepStone Group (NASDAQ:STEP) Stock Rating Upgraded by Zacks Research

StepStone Group (NASDAQ:STEP) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group upgraded shares of StepStone Group from a “neutral” rating to a “buy” rating and upped their target price for the stock from $64.00 to $83.00 in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of StepStone Group in a report on Wednesday, October 8th. Morgan Stanley lifted their target price on StepStone Group from $61.00 to $66.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Barclays boosted their target price on StepStone Group from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Friday, December 12th. Finally, BMO Capital Markets started coverage on StepStone Group in a report on Friday, October 3rd. They issued an “outperform” rating and a $74.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $74.57.

StepStone Group Stock Performance

Shares of STEP stock opened at $72.12 on Thursday. StepStone Group has a 52 week low of $40.07 and a 52 week high of $73.23. The stock has a market capitalization of $8.53 billion, a PE ratio of -9.02 and a beta of 1.34. The stock’s fifty day moving average is $63.83 and its 200-day moving average is $62.23.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. StepStone Group had a negative net margin of 40.06% and a positive return on equity of 21.53%. The business had revenue of $282.34 million for the quarter, compared to the consensus estimate of $272.15 million. During the same quarter in the prior year, the company earned $0.45 EPS. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. As a group, analysts forecast that StepStone Group will post 1.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In other StepStone Group news, CEO Scott W. Hart sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was sold at an average price of $66.17, for a total transaction of $661,700.00. Following the transaction, the chief executive officer owned 10,000 shares in the company, valued at approximately $661,700. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael I. Mccabe sold 74,214 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $66.14, for a total value of $4,908,513.96. Following the completion of the sale, the insider directly owned 122,209 shares of the company’s stock, valued at approximately $8,082,903.26. This trade represents a 37.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 362,858 shares of company stock valued at $23,341,044 over the last three months. Company insiders own 16.47% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in StepStone Group in the fourth quarter valued at approximately $1,825,000. GAMMA Investing LLC grew its holdings in shares of StepStone Group by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 1,413 shares of the company’s stock valued at $91,000 after buying an additional 164 shares during the period. Hudson Bay Capital Management LP increased its position in shares of StepStone Group by 213.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 156,855 shares of the company’s stock valued at $10,244,000 after buying an additional 106,781 shares in the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of StepStone Group in the 3rd quarter valued at $213,000. Finally, Prana Capital Management LP raised its stake in StepStone Group by 99.6% during the 3rd quarter. Prana Capital Management LP now owns 111,101 shares of the company’s stock worth $7,256,000 after buying an additional 55,433 shares during the period. Institutional investors and hedge funds own 55.54% of the company’s stock.

StepStone Group Company Profile

StepStone Group is a global private markets investment firm that provides specialized investment solutions across private equity, private credit and real assets. The firm offers customized portfolios, secondary interests, direct co-investments and tailored advisory services to institutional investors worldwide. StepStone’s integrated research and data analytics platform supports its investment teams in sourcing opportunities and monitoring portfolio companies.

Founded in 2007 as an independent private markets specialist, the company has grown its presence through both organic expansion and strategic partnerships.