T. Rowe Price Investment Manageme recently announced the acquisition of new stake in StepStone Group Inc. (NASDAQ:STEP). This fresh investment now brings its stake to 8.60% valued currently at $134.33 million. In addition, Wellington Management Co. LLP raised its holdings by 0.25 million to 4.45 million shares. And Wasatch Advisors, Inc. has lifted its position by 2.24% or 57919.0 shares – to 2.65 million shares.
With over 0.28 million StepStone Group Inc. (STEP) shares trading Tuesday and a closing price of $28.65 on the day, the dollar volume was approximately $8.03 million. The shares have shown a positive half year performance of 19.28% and its price on 01/17/23 lost nearly -0.35%. Currently, there are 61.41M common shares owned by the public and among those 48.70M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for STEP have a consensus price objective of $31.43. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $26.00. The average price target is 9.25% above its recent price level and a downside to the estimated low will see the stock lose -10.19% over that period. But an upside of 28.38% will see the stock hit the forecast high price target while median target price for the stock is $30.00.
Insiders at the company have transacted a total of 8 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 4 of these insider trades were purchases, accounting for 19,092 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 503,880 shares.
The top 3 mutual fund holders in StepStone Group Inc. are American Funds Small Cap World Fu, Vanguard Explorer Fund, and JPMorgan Small Cap Equity Fund. American Funds Small Cap World Fu owns 3.04 million shares of the company’s stock, all valued at over $76.52 million. The company bought an additional 0.29 million shares recently to bring their total holdings to about 4.90% of the shares outstanding. Vanguard Explorer Fund bought 0.29 million shares to see its total holdings expand to 2.43 million shares valued at over $61.1 million and representing 3.91% of the shares outstanding. JPMorgan Small Cap Equity Fund now owns shares totaling to 3.72% of the shares outstanding.
Shares of StepStone Group Inc. (NASDAQ: STEP) opened at $28.55, down -$0.2 from a prior closing price of $28.75. However, the script later moved the day high at 28.83, down -0.35%. The company’s stock has a 5-day price change of 8.65% and 15.34% over the past three months. STEP shares are trading 13.78% year to date (YTD), with the 12-month market performance down to -25.60% lower. It has a 12-month low price of $22.39 and touched a high of $41.19 over the same period. STEP has an average intraday trading volume of 245.26K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.06%, 1.21%, and 4.22% respectively.
Institutional ownership of StepStone Group Inc. (NASDAQ: STEP) shares accounts for 82.20% of the company’s 61.41M shares outstanding. Mutual fund holders own 23.96%, while other institutional holders and individual stakeholders account for 55.37% and 13.17% respectively.
It has a market capitalization of $3.07B. The stock’s trailing 12-month PE ratio is 36.59, while the earnings-per-share (ttm) stands at $0.78. The company has a PEG of 3.89 and the debt-to-equity ratio at 0.08. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.33% over the week and 3.65% over the month.
Analysts forecast that StepStone Group Inc. (STEP) will achieve an EPS of $0.27 for the current quarter, $0.3 for the next quarter and $1.52 for 2024. The lowest estimate earnings-per-share for the quarter is $0.23 while analysts give the company a high EPS estimate of $0.29. Comparatively, EPS for the current quarter was $0.4 a year ago. Earnings per share for the fiscal year are expected to increase by 447.60%, and 18.33% over the next financial year. EPS should shrink at an annualized rate of 9.40% over the next five years, compared to 53.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate StepStone Group Inc. (STEP) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 5 of the 7 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the STEP, a number of firms have released research notes about the stock. BofA Securities stated their Buy rating for the stock in a research note on September 07, 2022, with the firm’s price target at $42. Barclays coverage for the StepStone Group Inc. (STEP) stock in a research note released on August 31, 2022 offered a Equal Weight rating with a price target of $33. Morgan Stanley was of a view on July 19, 2022 that the stock is Equal-Weight, while Evercore ISI gave the stock Outperform rating on December 22, 2021, issuing a price target of $48. UBS on their part issued Neutral rating on January 26, 2021.