StepStone Group (NASDAQ:STEP) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

StepStone Group (NASDAQ:STEP – Get Rating) issued its quarterly earnings data on Thursday. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02), Briefing.com reports. The business had revenue of $145.11 million for the quarter, compared to the consensus estimate of $164.36 million. StepStone Group had a net margin of 13.97% and a return on equity of 12.38%. StepStone Group’s revenue was up 43.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 EPS.

Shares of StepStone Group stock traded up $0.27 during midday trading on Friday, hitting $27.90. The company had a trading volume of 16,512 shares, compared to its average volume of 298,183. The stock has a market cap of $3.02 billion, a PE ratio of 6.11 and a beta of 1.77. StepStone Group has a 1-year low of $22.39 and a 1-year high of $55.19. The business’s 50 day simple moving average is $28.62 and its two-hundred day simple moving average is $35.09.

Several equities analysts have commented on the company. Zacks Investment Research downgraded StepStone Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 13th. TheStreet downgraded StepStone Group from a “c-” rating to a “d+” rating in a report on Friday, April 29th. Finally, Morgan Stanley lowered their price target on StepStone Group from $55.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, April 20th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, StepStone Group has an average rating of “Buy” and an average price target of $46.00.

A number of hedge funds have recently modified their holdings of STEP. Point72 Hong Kong Ltd bought a new position in StepStone Group in the first quarter worth $36,000. Royal Bank of Canada lifted its position in StepStone Group by 53.5% in the second quarter. Royal Bank of Canada now owns 2,927 shares of the company’s stock worth $101,000 after purchasing an additional 1,020 shares during the period. Jane Street Group LLC bought a new position in StepStone Group in the third quarter worth $213,000. Schonfeld Strategic Advisors LLC bought a new position in StepStone Group in the fourth quarter worth $229,000. Finally, PNC Financial Services Group Inc. lifted its position in StepStone Group by 21.5% in the first quarter. PNC Financial Services Group Inc. now owns 7,535 shares of the company’s stock worth $250,000 after purchasing an additional 1,332 shares during the period. 95.74% of the stock is owned by hedge funds and other institutional investors.

StepStone Group Company Profile (Get Rating)

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.

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