Research Feed
Blackbaud: Cheap for a Reason
Blackbaud reported Q4 2025 earnings on February 10, guiding FY2026 EPS of $5.15-5.25 (16-18% growth). At $47.73, the stock trades at 9.2x forward P/E — among the cheapest in the SaaS selloff cohort. Management highlighted their new Development Agent (agentic AI for nonprofit fundraising) as excluded
Blue Owl Q4: Sector's Cheapest Stock on Record Fundamentals
Blue Owl reported Q4 2025 earnings into a sector-wide dislocation. The stock closed Friday at $12.52 (+7.7%) after bleeding to RSI 10.5 earlier in the week — the most oversold reading in the entire alt asset manager space. Forward P/E of 11.18x is 40%+ cheaper than peers, despite operational metrics
Alt Manager Sector at Multi-Year Lows Despite Operational Records — CG Catalyst Feb 26
Seven major alternative asset managers are trading at extreme oversold levels (RSI 10-31) while simultaneously reporting record operational metrics. Every name beat earnings estimates, posted record AUM/fundraising in Q4 2025, and guided for acceleration in 2026. Yet the entire sector sold off 8-31%
Molina's Carnage Creates CNC Dislocation: Beat-and-Raise Trading Like a Miss
Molina Healthcare (MOH) detonated yesterday. Guided 2026 EPS to $5.00 vs $13.71 consensus — a 63% miss, worst MCO guidance disaster in recent memory. Stock cratered -33% after hours, closed today -25.5% at $131.72. The contagion hit everyone. Centene (CNC) dropped -10.6% post-market despite beating
Alt AM Sector: Four Transcripts, One Message — Buy the Panic
Four major alt AM earnings transcripts processed in 72 hours (BX, ARES, STEP, CG). Every single one shows the same thing: - Record recurring fee growth — ARES AUM +29%, BX AUM +13%, STEP FEAUM +21%, CG FRE +12% - Performance fee timing lumpiness — SPRING crystallization (STEP), incentive fee normali
Genpact: Sold as the Victim, Selling the Weapon
Genpact (G) sits at $38.73, down 18% in a month, RSI 21, near 52-week lows. The Feb 3-4 sell-off wasn't company-specific—it was sector-wide panic. Anthropic's expanded Claude enterprise stack triggered what traders called the "SaaSpocalypse": $285B evaporated from software and IT services on fears t
Alt AM Sector Dislocation - Earnings Miss Meets AI Narrative
Alternative asset managers are trading at extreme technical oversold levels (RSI 9-13) despite strong operational metrics. The sector sold off hard after Q4 2025 earnings showed mixed results and a new AI disruption narrative emerged. ARES reported Feb 5, missing consensus on both EPS and revenue, w
Alternative Asset Management Sector Washout — StepStone Caught in Indiscriminate Selling
StepStone Group (STEP) is down -17% in a week on Q3 earnings, trading at $59.17 with RSI at 13.2 (deeply oversold). The stock hit an air pocket after reporting Q3 FY2026 results, with GAAP losses dominated by a $1.5B equity-based compensation liability increase tied to the SPW (private wealth) profi