StepStone Group Inc. (NASDAQ:STEP) Short Interest Up 43.6% in February

StepStone Group Inc. (NASDAQ:STEP) saw a significant increase in short interest during the month of February. As of February 13th, there was short interest totaling 3,051,721 shares, an increase of 43.6% from the January 29th total of 2,124,504 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average trading volume of 1,523,948 shares, the days-to-cover ratio is presently 2.0 days. Based on an average trading volume of 1,523,948 shares, the days-to-cover ratio is presently 2.0 days. Currently, 3.1% of the company’s shares are sold short.

StepStone Group Trading Down 8.2%

Shares of StepStone Group stock traded down $3.84 on Friday, reaching $43.14. 3,067,265 shares of the stock were exchanged, compared to its average volume of 1,718,078. The firm has a market capitalization of $5.14 billion, a PE ratio of -6.22 and a beta of 1.32. StepStone Group has a 1-year low of $40.07 and a 1-year high of $77.79. The business has a fifty day moving average price of $64.59 and a two-hundred day moving average price of $63.39.

StepStone Group (NASDAQ:STEP) last issued its earnings results on Thursday, February 5th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.05. StepStone Group had a positive return on equity of 31.44% and a negative net margin of 30.66%.The business had revenue of $241.13 million during the quarter, compared to the consensus estimate of $363.92 million. During the same period in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 102.7% on a year-over-year basis. Research analysts expect that StepStone Group will post 1.82 EPS for the current year.

StepStone Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. StepStone Group’s dividend payout ratio (DPR) is currently -16.14%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Zacks Research downgraded shares of StepStone Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Evercore set a $73.00 price objective on StepStone Group in a report on Friday, February 6th. Morgan Stanley set a $72.00 target price on StepStone Group in a research note on Tuesday, January 27th. Oppenheimer dropped their price target on shares of StepStone Group from $105.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of StepStone Group from $84.00 to $91.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, StepStone Group currently has a consensus rating of “Moderate Buy” and an average target price of $80.57.

Insiders Place Their Bets

In other news, CEO Scott W. Hart sold 10,000 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $72.52, for a total transaction of $725,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael I. Mccabe sold 74,214 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $66.14, for a total transaction of $4,908,513.96. Following the transaction, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 212,052 shares of company stock worth $14,096,290 in the last 90 days. Company insiders own 16.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC boosted its position in shares of StepStone Group by 105.0% in the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after buying an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of StepStone Group by 2,285.7% in the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after purchasing an additional 480 shares in the last quarter. Quarry LP grew its position in shares of StepStone Group by 155.7% in the third quarter. Quarry LP now owns 514 shares of the company’s stock valued at $34,000 after purchasing an additional 313 shares during the last quarter. Fifth Third Bancorp grew its position in shares of StepStone Group by 58.6% in the fourth quarter. Fifth Third Bancorp now owns 544 shares of the company’s stock valued at $35,000 after purchasing an additional 201 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of StepStone Group by 127.8% during the 3rd quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after purchasing an additional 326 shares in the last quarter. 55.54% of the stock is owned by hedge funds and other institutional investors.

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.