StepStone Group (NASDAQ:STEP) Sets New 52-Week Low – Should You Sell?

StepStone Group Inc. (NASDAQ:STEP) shares hit a new 52-week low during trading on Friday . The stock traded as low as $40.40 and last traded at $40.6650, with a volume of 193078 shares traded. The stock had previously closed at $40.91.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on STEP shares. Weiss Ratings lowered shares of StepStone Group from a “sell (d)” rating to a “sell (d-)” rating in a report on Wednesday, April 22nd. Evercore reaffirmed an “outperform” rating and issued a $60.00 target price on shares of StepStone Group in a research report on Thursday, May 21st. BMO Capital Markets upped their price target on StepStone Group from $54.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, May 21st. Barclays increased their price objective on StepStone Group from $61.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, May 21st. Finally, Oppenheimer lowered their target price on StepStone Group from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 21st. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $71.88.

StepStone Group Stock Performance

The company has a market capitalization of $4.72 billion, a PE ratio of -5.81 and a beta of 1.29. The stock has a 50 day moving average price of $49.87 and a two-hundred day moving average price of $55.32.

StepStone Group (NASDAQ:STEP) last released its quarterly earnings data on Wednesday, May 20th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. The firm had revenue of $305.84 million for the quarter, compared to the consensus estimate of $292.11 million. StepStone Group had a positive return on equity of 37.69% and a negative net margin of 26.88%.The firm’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. Sell-side analysts predict that StepStone Group Inc. will post 2.57 earnings per share for the current year.

StepStone Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, June 15th. This represents a $1.12 annualized dividend and a dividend yield of 2.8%. StepStone Group’s dividend payout ratio is -16.47%.

StepStone Group declared that its Board of Directors has approved a stock buyback program on Monday, March 9th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other StepStone Group news, insider Michael I. Mccabe bought 120,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $41.85 per share, with a total value of $5,022,000.00. Following the completion of the transaction, the insider directly owned 433,178 shares of the company’s stock, valued at $18,128,499.30. This represents a 38.32% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jose A. Fernandez sold 100,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $48.60, for a total transaction of $4,860,000.00. Following the transaction, the chief operating officer directly owned 102,290 shares in the company, valued at $4,971,294. The trade was a 49.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 16.47% of the stock is currently owned by company insiders.

Institutional Trading of StepStone Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Salomon & Ludwin LLC raised its stake in shares of StepStone Group by 105.0% in the 4th quarter. Salomon & Ludwin LLC now owns 414 shares of the company’s stock valued at $28,000 after acquiring an additional 212 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in StepStone Group by 2,285.7% during the third quarter. Aster Capital Management DIFC Ltd now owns 501 shares of the company’s stock worth $33,000 after purchasing an additional 480 shares during the period. Quarry LP grew its holdings in StepStone Group by 155.7% during 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 holdings in StepStone Group by 58.6% during 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 raised its position in shares of StepStone Group by 127.8% in the third quarter. Clearstead Advisors LLC now owns 581 shares of the company’s stock valued at $38,000 after purchasing an additional 326 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.