StepStone Group (NASDAQ:STEP) Coverage Initiated at UBS Group

Stock analysts at UBS Group initiated coverage on shares of StepStone Group (NASDAQ:STEP) in a report issued on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $60.00 price target on the stock. UBS Group’s target price would suggest a potential upside of 27.69% from the stock’s current price.

STEP has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of StepStone Group in a report on Thursday, January 22nd. Zacks Research cut StepStone Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 10th. Oppenheimer decreased their price objective on StepStone Group from $105.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Morgan Stanley set a $72.00 target price on StepStone Group in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised StepStone Group from a “sell” rating to a “hold” rating in a research report on Saturday, January 10th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.50.

StepStone Group Stock Performance

Shares of STEP opened at $46.99 on Thursday. The firm has a market cap of $5.60 billion, a P/E ratio of -6.77 and a beta of 1.32. StepStone Group has a twelve month low of $40.07 and a twelve month high of $77.79. The firm’s 50 day moving average price is $53.77 and its two-hundred day moving average price is $60.96.

StepStone Group (NASDAQ:STEP) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.05. StepStone Group had a negative net margin of 30.66% and a positive return on equity of 31.44%. The company had revenue of $241.13 million during the quarter, compared to the consensus estimate of $363.92 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The firm’s revenue was up 102.7% compared to the same quarter last year. On average, sell-side analysts anticipate that StepStone Group will post 1.82 earnings per share for the current fiscal year.

StepStone Group declared that its Board of Directors has authorized a stock buyback plan on Monday, March 9th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CEO Scott W. Hart sold 10,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available at this hyperlink. Corporate insiders own 16.47% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Salomon & Ludwin LLC increased its position in shares of StepStone Group by 105.0% during the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock worth $28,000 after purchasing an additional 212 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in shares of StepStone Group by 2,285.7% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock valued at $33,000 after buying an additional 480 shares during the last quarter. Quarry LP grew its stake 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 buying an additional 313 shares in the last quarter. Fifth Third Bancorp grew its stake 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 buying an additional 201 shares in the last quarter. Finally, Clearstead Advisors LLC increased its holdings in StepStone Group by 127.8% during the third quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock worth $38,000 after buying an additional 326 shares during the last quarter. 55.54% of the stock is currently owned by 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.