7Baggers

Victory Capital Holdings, Inc
(NASDAQ:VCTR) 

VCTR stock logo

Victory Capital Holdings, Inc., together with its subsidiaries, operates as an asset management company worldwide. It offers investment management, fund administration, fund compliance, fund transfer agent, and fund distribution services. The company provides specialized investment strategies to ins...

Full Time Employees: 358
Sector: Financial Services
Industry: Asset Management

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At a glance:
Bull Thesis:
Bear Thesis:
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Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
                                     
      revenue
                                     
      yoy
                                     
      qoq
                                     
      investment management fees
    316,369,000 301,353,000 288,509,000 282,306,000 173,301,000 183,826,000 177,809,000 173,163,000 169,785,000 160,677,000 163,953,000 159,410,000 156,836,000 156,346,000 160,770,000 168,129,000 179,465,000 124,918,000 171,355,000 168,033,000 160,284,000 147,883,000 137,240,000 130,032,000 146,881,000 158,943,000 155,406,000 78,042,000 74,411,000 82,030,000 92,525,000 88,998,000 89,130,000 
      fund administration and distribution fees
    71,620,000 72,769,000 72,686,000 68,906,000 46,301,000 48,545,000 47,819,000 46,458,000 46,072,000 45,117,000 45,735,000 44,816,000 44,484,000 45,169,000 46,490,000 47,877,000 50,554,000 40,367,750 54,935,000 53,871,000 52,665,000 52,505,000 51,416,000 51,854,000 57,540,000 59,611,000 59,574,000 13,318,000 13,068,000 13,937,000 15,557,000 15,401,000 15,834,000 
      total revenue
    387,989,000 374,122,000 361,195,000 351,212,000 219,602,000 232,371,000 225,628,000 219,621,000 215,857,000 205,794,000 209,688,000 204,226,000 201,320,000 201,515,000 207,260,000 216,006,000 230,019,000 165,285,750 226,290,000 221,904,000 212,949,000 200,388,000 188,656,000 181,886,000 204,421,000 218,554,000 214,980,000 91,360,000 87,479,000 95,967,000 108,082,000 104,399,000 104,964,000 
      expenses
                                     
      personnel compensation and benefits
    105,855,000 100,954,000 96,983,000 108,918,000 56,136,000 58,857,000 43,243,000 55,660,000 59,454,000 53,949,000 54,501,000 54,940,000 57,602,000 58,846,000 56,869,000 57,582,000 64,901,000 43,076,250 55,837,000 57,462,000 59,006,000 36,012,750 47,375,000 49,105,000 47,571,000 31,399,750 55,556,000 35,542,000 34,501,000 27,992,500 38,027,000 37,140,000 36,803,000 
      distribution and other asset-based expenses
    67,410,000 68,315,000 66,160,000 62,039,000 35,477,000 36,924,000 36,828,000 36,474,000 36,263,000 36,438,000 38,160,000 37,344,000 37,654,000 37,634,000 39,019,000 40,868,000 43,584,000 32,796,250 44,859,000 44,223,000 42,103,000 33,903,250 39,123,000 41,630,000 54,860,000 22,287,750 57,202,000 16,182,000 15,767,000 18,389,250 24,269,000 24,127,000 25,161,000 
      general and administrative
    20,615,000 22,147,000 23,463,000 23,381,000 14,328,000 14,268,000 14,029,000 14,385,000 14,012,000 16,702,000 13,947,000 13,250,000 12,388,000 13,389,000 12,301,000 13,921,000 12,762,000 10,204,500 13,795,000 13,713,000 13,310,000 9,593,250 13,196,000 13,289,000 11,888,000 7,957,000 17,654,000 7,087,000 7,087,000 5,773,750 6,951,000 7,088,000 9,056,000 
      depreciation and amortization
    20,576,000 21,593,000 22,032,000 21,794,000 7,432,000 7,514,000 7,510,000 7,551,000 7,601,000 7,984,000 12,333,000 9,650,000 11,680,000 11,150,000 10,686,000 10,758,000 10,607,000 3,364,000 4,377,000 4,694,000 4,385,000 3,038,000 3,936,000 4,166,000 4,050,000 4,563,250 7,768,000 5,263,000 5,222,000 4,479,250 5,574,000 5,931,000 6,412,000 
      change in value of consideration payable for acquisition of business
    3,537,000 3,064,000 3,841,000 1,092,000 3,406,000 294,000 -1,600,000 -8,200,000 12,200,000 4,000,000 10,336,000 1,500,000 7,400,000  -10,500,000 -26,600,000 -3,500,000 2,650,000 2,400,000 5,700,000 2,500,000 450,000 2,000,000 5,300,000 -5,500,000 -3,500  -14,000      
      acquisition-related costs
    7,658,000 570,000 379,000 25,780,000 8,750,000 2,135,000 5,075,000 3,049,000 1,026,000 83,000 116,000 16,000 2,000 85,000 189,000 143,000 117,000 1,566,250 6,007,000 422,000 -164,000 264,000 1,148,000 -23,000 -69,000 5,487,500 16,386,000 2,787,000 2,777,000 361,500 1,451,000   
      restructuring and integration costs
    3,153,000 4,304,000 10,211,000 13,994,000 1,165,000 634,000 180,000 105,000 492,000 320,000 246,000  29,000 808,000 56,000 8,000 9,000 623,250 18,000 422,000 2,053,000 1,222,000 1,285,000 2,605,000 998,000 1,657,250 4,841,000 1,788,000  175,500  438,000 264,000 
      total operating expenses
    228,804,000 220,947,000 223,069,000 256,998,000 126,694,000 120,626,000 105,265,000 109,024,000 131,048,000 119,476,000 129,639,000 116,700,000 126,755,000 121,912,000 108,620,000 96,680,000 128,480,000 94,280,500 127,293,000 126,636,000 123,193,000 84,483,250 108,063,000 116,072,000 113,798,000 73,349,000 159,407,000 68,635,000 65,354,000 57,170,750 76,272,000 74,715,000 77,696,000 
      income from operations
    159,185,000 153,175,000 138,126,000 94,214,000 92,908,000 111,745,000 120,363,000 110,597,000 84,809,000 86,318,000 80,049,000 87,526,000 74,565,000 79,603,000 98,640,000 119,326,000 101,539,000 71,005,250 98,997,000 95,268,000 89,756,000 77,683,000 80,593,000 65,814,000 90,623,000 64,197,000 55,573,000 22,725,000 22,125,000 25,757,000 31,810,000 29,684,000 27,268,000 
      yoy
    71.34% 37.08% 14.76% -14.81% 9.55% 29.46% 50.36% 26.36% 13.74% 8.44% -18.85% -26.65% -26.57% 12.11% -0.36% 25.25% 13.13% -8.60% 22.84% 44.75% -0.96% 21.01% 45.02% 189.61% 309.60% 149.24% 74.70% -23.44% -18.86%     
      qoq
    3.92% 10.90% 46.61% 1.41% -16.86% -7.16% 8.83% 30.41% -1.75% 7.83% -8.54% 17.38% -6.33% -19.30% -17.34% 17.52% 43.00% -28.28% 3.91% 6.14% 15.54% -3.61% 22.46% -27.38% 41.16% 15.52% 144.55% 2.71% -14.10% -19.03% 7.16% 8.86%  
      operating margin %
    Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% 
      other income
                                     
      interest income and other income
    2,756,000 3,713,000 4,875,000 6,006,000 704,000 1,768,000 3,551,000 1,557,000 3,565,000 3,765,000 1,452,000 1,971,000 1,544,000 2,633,000 -1,446,000 -3,443,000 -207,000 1,136,750 -119,000 1,932,000 2,734,000 -21,500 1,120,000 2,966,000 -4,172,000 1,307,750 2,742,000 656,000 1,833,000 -57,250 -200,000 8,000  
      interest expense and other financing costs
    -14,081,000 -15,229,000 -13,113,000 -13,234,000 -13,211,000 -14,657,000 -16,414,000 -16,279,000 -16,486,000 -16,561,000 -15,580,000 -14,902,000 -14,239,000 -13,327,000 -11,479,000 -9,925,000 -9,233,000 -4,713,250 -5,853,000 -6,155,000 -6,845,000 -7,326,250 -8,187,000 -9,710,000 -11,408,000 -6,500,000 -16,856,000 -4,520,000 -4,624,000 -4,064,000 -4,458,000 -4,706,000  
      total other income
    -11,325,000        -12,921,000    -12,695,000    -10,995,000    -6,892,000     -7,044,500 -21,523,000 -3,864,000 -2,791,000 -5,635,750 -4,658,000 -4,698,000  
      income before income taxes
    147,860,000 141,659,000 129,274,000 86,986,000 80,401,000 98,593,000 107,500,000 95,775,000 71,888,000 73,522,000 65,921,000 74,595,000 61,870,000 69,148,000 85,346,000 104,995,000 90,544,000 66,279,750 92,356,000 89,899,000 82,864,000 72,576,000 72,768,000 59,207,000 73,989,000 48,443,000 34,050,000 18,861,000 19,334,000 18,692,000 27,152,000 24,986,000 14,081,000 
      income tax expense
    -35,720,000 -28,847,000 -32,733,000 -28,252,000 -18,426,000 -21,654,000 -25,517,000 -21,524,000 -16,197,000 -18,316,000 -13,914,000 -17,924,000 -12,597,000 -16,879,000 -12,582,000 -25,790,000 -19,271,000 -14,118,000 -18,181,000 -20,629,000 -17,662,000 -12,084,250 -17,027,000 -14,487,000 -16,823,000 -4,335,750 -8,058,000 -4,478,000 -4,807,000 -4,107,500 -6,562,000 -6,311,000  
      net income
    112,140,000 112,812,000 96,541,000 58,734,000 61,975,000 76,939,000 81,983,000 74,251,000 55,691,000 55,206,000 52,007,000 56,671,000 49,273,000 52,269,000 72,764,000 79,205,000 71,273,000 52,161,750 74,175,000 69,270,000 65,202,000 54,895,000 55,741,000 44,720,000 57,166,000 37,589,000 25,992,000 14,383,000 14,527,000 13,915,000 20,590,000 18,675,000 10,524,000 
      yoy
    80.94% 46.63% 17.76% -20.90% 11.28% 39.37% 57.64% 31.02% 13.03% 5.62% -28.53% -28.45% -30.87% 0.21% -1.90% 14.34% 9.31% -4.98% 33.07% 54.90% 14.06% 46.04% 114.45% 210.92% 293.52% 170.13% 26.24% -22.98% 38.04%     
      qoq
    -0.60% 16.85% 64.37% -5.23% -19.45% -6.15% 10.41% 33.33% 0.88% 6.15% -8.23% 15.01% -5.73% -28.17% -8.13% 11.13% 36.64% -29.68% 7.08% 6.24% 18.78% -1.52% 24.64% -21.77% 52.08% 44.62% 80.71% -0.99% 4.40% -32.42% 10.25% 77.45%  
      net income margin %
    Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% Infinity% 
      preferred stock dividends
    -9,769,000 -9,769,000 -9,696,000 -9,673,000                              
      net income attributable to preferred stockholders
    -16,846,000 -14,860,000 -12,528,000 -2,985,000                              
      net income attributable to common stockholders
    85,525,000                                 
      earnings per share of common stock
                                     
      basic
    1.34 1.36 1.12 0.69 0.97 1.19 1.26 1.15 0.86 0.84 0.79 0.85 0.73 0.77 1.06 1.16 1.04 0.77 1.09 1.02 0.96 0.583 0.82 0.66 0.84 0.203 0.38 0.21 0.22 0.19 0.3   
      diluted
    1.33 1.35 1.11 0.68 0.96 1.17 1.24 1.12 0.84 0.82 0.77 0.83 0.71 0.74 1.01 1.09 0.97 0.703 0.93 0.88 0.535 0.76 0.61 0.77 0.188 0.35 0.2 0.2 0.178 0.29   
      weighted-average number of shares outstanding
                                     
      basic
    63,635 65,439 66,206 67,239 63,711 64,607 64,875 64,734 64,389 66,202 65,774 66,466 67,288 68,481 68,609 68,521 68,747  67,980 67,776 67,761  67,743 67,821 67,790  67,724 67,583 67,520,883  67,972,313   
      diluted
    64,388 66,376 66,964 67,980 64,714 65,928 66,057 66,075 65,972 68,214 67,676 68,500 69,727 72,266 71,877 72,867 73,652  74,053 74,166 74,108  73,437 73,204 74,350  73,671 73,521 72,281,878  71,863,566   
      dividends declared per share of common stock
    0.49 0.49 0.49 0.49 0.47 0.44 0.41 0.37 0.335 0.32 0.32 0.32 0.32 0.25 0.25 0.25 0.25 0.09 0.15 0.12 0.09 0.04 0.06 0.05 0.05 0.013 0.05       
      loss on debt extinguishment
      -614,000   -263,000  -100,000      239,000 -369,000 -963,000 -1,555,000 -1,149,000 -669,000  -2,781,000 -418,750 -758,000  -1,054,000 -1,852,250 -7,409,000   -1,514,500    
      total other expense
     -7,146,750 -8,852,000 -7,228,000 -12,507,000 -10,151,500 -12,863,000 -14,822,000  -9,938,500 -14,128,000 -12,931,000  -9,655,000 -13,294,000 -14,331,000  -4,725,500 -6,641,000 -5,369,000  -7,766,500 -7,825,000 -6,607,000 -16,634,000         
      net income attributable to common shareholders
     88,183,000 74,317,000 46,076,000                              
      gain on debt extinguishment
                       -1,146,000    137,000          
      earnings per share - basic
                                   0.27 0.17 
      earnings per share - diluted
                                   0.26 0.16 
      weighted-average shares outstanding - basic
                                   67,948,732 61,599,057 
      weighted-average shares outstanding - diluted
                                   72,135,290 66,283,621 
      dividends declared per share
                                     
                                     
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
                                       
        assets
                                       
        cash and cash equivalents
      75,849,000 163,690,000 115,741,000 107,870,000 175,607,000 126,731,000 188,248,000 118,970,000 79,937,000 123,547,000 107,987,000 43,780,000 38,335,000 38,171,000 66,669,000 42,718,000 38,550,000 69,533,000 64,740,000 31,622,000 30,386,000 22,744,000 56,284,000 55,184,000 37,130,000 37,121,000 78,963,000 23,410,000 66,261,000 51,491,000 25,139,000 15,162,000 12,296,000 
        receivables
      197,584,000  176,985,000 205,240,000 95,823,000  96,922,000 100,660,000 97,211,000  95,174,000 92,964,000 85,368,000  87,534,000 90,900,000 93,713,000  103,180,000 98,684,000 91,924,000  79,196,000 74,805,000 77,610,000  86,446,000 44,184,000 42,783,000  50,421,000 51,813,000 54,763,000 
        prepaid expenses
      20,146,000 16,071,000 12,749,000 12,242,000 8,868,000 8,634,000 7,932,000 6,979,000 7,269,000 5,785,000 6,458,000 7,028,000 11,561,000 8,443,000 7,321,000 7,760,000 7,914,000 6,654,000 5,569,000 6,230,000 6,776,000 6,082,000 5,335,000 6,252,000 6,709,000 4,852,000 4,606,000 3,738,000 3,832,000 2,664,000 2,494,000 2,855,000 4,102,000 
        investments, at fair value
      82,779,000  97,864,000 95,788,000 34,511,000  34,743,000 33,759,000 33,524,000  29,858,000 29,991,000 28,869,000  28,908,000 29,498,000 32,388,000  29,801,000 29,566,000 26,931,000             
        property and equipment
      22,407,000 23,833,000 25,823,000 28,038,000 11,124,000 11,874,000 13,720,000 15,599,000 17,552,000 19,578,000 21,203,000 22,485,000 19,646,000 21,146,000 23,124,000 24,609,000 24,760,000 25,295,000 23,686,000 24,290,000 20,699,000 18,747,000 18,741,000 16,009,000 14,028,000 13,240,000 11,317,000 9,438,000 8,874,000 8,780,000 8,632,000 8,975,000 8,776,000 
        goodwill
      1,235,940,000 1,235,940,000 1,235,940,000 1,232,800,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 981,805,000 404,750,000 404,750,000 404,750,000 404,750,000 404,750,000 404,750,000 404,750,000 404,750,000 391,515,000 284,108,000 284,108,000 284,108,000 284,108,000 284,108,000 284,108,000 
        other intangible assets
      2,459,532,000 2,477,617,000 2,496,267,000 2,515,005,000 1,255,351,000 1,260,614,000 1,265,901,000 1,271,200,000 1,276,500,000 1,281,832,000 1,287,542,000 1,297,574,000 1,304,927,000 1,314,637,000 1,323,828,000 1,332,484,000 1,341,140,000 1,349,797,000 1,154,235,000 1,156,919,000 1,160,089,000 1,162,641,000 1,165,763,000 1,168,885,000 1,172,305,000 1,175,471,000 1,198,361,000 378,378,000 383,029,000 387,679,000 392,331,000 397,130,000 402,325,000 
        operating lease right-of-use assets
      46,524,000                                 
        other assets
      804,000 50,164,000 51,100,000 52,464,000 20,397,000 22,053,000 22,854,000 12,309,000 12,400,000 10,691,000 61,778,000 62,794,000 57,752,000 64,958,000 69,936,000 57,796,000 52,322,000 10,633,000 5,069,000 4,014,000 8,115,000 4,090,000 4,305,000 3,448,000 3,600,000 3,706,000 3,441,000 9,097,000 9,299,000 9,349,000 8,519,000 7,735,000 6,532,000 
        total assets
      4,141,565,000 4,247,850,000 4,212,469,000 4,249,447,000 2,583,486,000 2,547,591,000 2,612,125,000 2,541,281,000 2,506,198,000 2,542,616,000 2,591,805,000 2,538,421,000 2,528,263,000 2,540,899,000 2,589,125,000 2,567,570,000 2,572,592,000 2,579,746,000 1,791,030,000 1,756,075,000 1,749,670,000 1,730,729,000 1,753,991,000 1,747,840,000 1,731,763,000 1,753,309,000 1,791,642,000 841,095,000 813,928,000 801,511,000 786,201,000 781,244,000 785,145,000 
        liabilities and stockholders' equity
                                       
        accounts payable and accrued expenses
      103,705,000 72,387,000 79,471,000 83,907,000 71,064,000 57,951,000 61,256,000 54,528,000 62,022,000 56,477,000 59,552,000 57,438,000 58,823,000 50,862,000 50,145,000 45,737,000 47,587,000 62,102,000 54,058,000 51,153,000 56,428,000  56,313,000 78,265,000 79,111,000  102,078,000 29,879,000 24,410,000  16,854,000 17,356,000 25,396,000 
        accrued compensation and benefits
      60,262,000 86,355,000 78,846,000 72,980,000 42,361,000 51,648,000 45,595,000 54,020,000 48,521,000 55,456,000 52,167,000 46,177,000 42,975,000 58,458,000 52,951,000 48,308,000 43,388,000 53,905,000 44,536,000 38,885,000 34,892,000 47,278,000 40,859,000 33,944,000 33,544,000 54,842,000 44,629,000 21,559,000 19,901,000 30,228,000 30,326,000 23,771,000 21,031,000 
        consideration payable for acquisition of business
      51,158,000 87,564,000 84,500,000 80,659,000 143,300,000 139,894,000 139,600,000 141,200,000 149,400,000 217,200,000 249,636,000 239,300,000 237,800,000 230,400,000 267,900,000 278,400,000 305,553,000 309,380,000 103,100,000 100,700,000 95,000,000 92,500,000 120,500,000 118,500,000 113,200,000 118,700,000 102,800,000 6,017,000 5,921,000 5,838,000 5,788,000 10,133,000 9,997,000 
        deferred tax liability
      486,656,000 479,792,000 477,872,000 466,247,000 163,435,000 157,120,000 152,335,000 142,418,000 133,258,000 128,714,000 124,995,000 119,757,000 111,217,000 108,138,000 103,394,000 90,914,000 76,176,000 63,120,000 56,914,000 51,022,000 47,411,000 37,684,000 28,117,000 14,785,000 11,134,000 5,486,000 9,522,000 9,286,000 7,575,000 6,212,000 7,153,000 4,409,000 5,582,000 
        operating lease liabilities
      43,775,000                                 
        other liabilities
      68,148,000 46,373,000 120,694,000 114,855,000 53,997,000 20,871,000 56,016,000 44,579,000 45,658,000 11,225,000 40,996,000 42,272,000 42,454,000 15,317,000 47,883,000 48,534,000 53,085,000 2,576,000 30,858,000 30,620,000 27,911,000 12,002,000 32,768,000 30,273,000 25,047,000 4,363,000 20,000,000 17,616,000 16,636,000 1,759,000 15,803,000 16,929,000 13,878,000 
        long-term debt
      968,024,000 970,014,000 971,988,000 965,674,000 964,763,000 963,862,000 982,661,000 981,724,000 990,206,000 989,269,000 988,323,000 987,376,000 986,440,000 985,514,000 999,843,000 1,017,496,000 1,060,529,000 1,127,924,000 633,897,000 667,539,000 722,652,000 769,009,000 815,877,000 857,233,000 888,647,000 924,539,000 1,005,928,000 269,787,000 269,320,000 268,857,000 268,383,000 287,907,000 310,435,000 
        total liabilities
      1,781,728,000 1,823,121,000 1,813,371,000 1,784,322,000 1,438,920,000 1,425,954,000 1,437,463,000 1,418,469,000 1,429,065,000 1,489,615,000 1,515,669,000 1,492,320,000 1,479,709,000 1,475,489,000 1,522,116,000 1,529,389,000 1,586,318,000 1,649,819,000 923,363,000 939,919,000 984,294,000 1,023,188,000 1,094,434,000 1,133,000,000 1,150,683,000 1,215,438,000 1,284,957,000 354,144,000 343,763,000 345,963,000 344,307,000 360,505,000 386,319,000 
        stockholders' equity
                                       
        common stock, 0.01 par value per share...
      884,000 879,000 877,000 877,000 844,000 839,000 837,000 835,000 832,000 824,000 822,000 817,000 815,000 805,000 803,000 784,000 779,000 772,000                
        preferred stock, 0.01 par value per share...
      200,000 199,000 198,000 197,000                              
        additional paid-in capital
      2,112,191,000 2,102,938,000 2,097,188,000 2,086,837,000 756,420,000 752,371,000 746,917,000 741,490,000 735,517,000 728,283,000 723,252,000 717,208,000 711,478,000 705,466,000 699,242,000 685,543,000 678,812,000 673,572,000 665,898,000 659,920,000 653,973,000 647,602,000 641,467,000 636,386,000 632,468,000 624,766,000 617,469,000 610,685,000 606,181,000 604,401,000 599,875,000 595,191,000 591,038,000 
        treasury stock
      -930,356,000 -786,008,000 -734,638,000 -607,244,000 -584,051,000 -574,856,000 -470,727,000 -464,944,000 -457,539,000 -444,286,000 -384,462,000 -377,670,000 -329,984,000  -243,901,000 -193,701,000 -171,954,000                 
        accumulated other comprehensive income
      8,642,000 9,020,000 9,326,000 12,779,000 15,707,000 18,683,000 21,955,000 25,024,000 28,164,000 31,328,000 34,220,000 34,287,000 30,374,000 35,442,000 37,121,000 27,175,000 22,171,000 5,972,000 1,571,000 351,000 3,311,000       -20,000 -12,000 -86,000 63,000 47,000 98,000 
        retained earnings
      1,168,276,000 1,097,701,000 1,026,147,000 971,679,000 955,646,000 924,600,000 875,680,000 820,407,000 770,159,000 736,852,000 702,304,000 671,459,000 635,871,000 609,122,000 573,744,000 518,380,000 456,466,000 402,811,000 344,748,000 281,344,000 220,302,000 161,581,000 111,404,000 60,141,000 18,860,000         
        total stockholders' equity
      2,359,837,000 2,424,729,000 2,399,098,000 2,465,125,000 1,144,566,000 1,121,637,000 1,174,662,000 1,122,812,000 1,077,133,000 1,053,001,000 1,076,136,000 1,046,101,000 1,048,554,000 1,065,410,000 1,067,009,000 1,038,181,000 986,274,000 929,927,000 867,667,000 816,156,000 765,376,000 707,541,000 659,557,000 614,840,000 581,080,000 537,871,000 506,685,000 486,951,000 470,165,000 455,548,000 441,894,000 420,739,000  
        total liabilities and stockholders' equity
      4,141,565,000 4,247,850,000 4,212,469,000 4,249,447,000 2,583,486,000 2,547,591,000 2,612,125,000 2,541,281,000 2,506,198,000 2,542,616,000 2,591,805,000 2,538,421,000 2,528,263,000 2,540,899,000 2,589,125,000 2,567,570,000 2,572,592,000 2,579,746,000 1,791,030,000 1,756,075,000 1,749,670,000 1,730,729,000 1,753,991,000 1,747,840,000 1,731,763,000 1,753,309,000 1,791,642,000 841,095,000 813,928,000 801,511,000 786,201,000 781,244,000  
        investment management fees receivable
       150,512,000    83,307,000    71,888,000    68,347,000    80,634,000    67,957,000    74,321,000    37,980,000    
        fund administration and distribution fees receivable
       25,861,000    16,014,000    14,238,000    14,379,000    17,123,000    16,971,000    19,313,000    3,153,000    
        other receivables
       4,768,000    1,346,000    1,444,000    1,747,000    6,548,000    3,254,000    1,459,000    2,987,000    
        investments in proprietary funds, at fair value
       636,000    605,000    534,000    466,000    912,000    922,000            
        deferred compensation plan investments, at fair value
       98,758,000    34,608,000    31,274,000    26,800,000    30,812,000    22,571,000            
        deferred compensation plan liability
       80,636,000    34,608,000    31,274,000    26,800,000    30,812,000    22,571,000    18,305,000    12,719,000    
        commitments and contingencies
                                       
        class a treasury stock
                   -285,425,000    -153,200,000 -69,565,000 -63,290,000 -54,966,000 -47,844,000 -42,488,000 -33,104,000 -25,918,000 -21,524,000 -16,440,000 -11,337,000 -9,389,000 -8,045,000 -3,542,000 -720,000  
        class b common stock, 0.01 par value per share...
                        563,000 558,000 556,000 548,000 544,000 545,000 545,000 539,000 537,000 544,000 550,000 553,000 556,000 570,000 571,000 
        class b treasury stock, at cost: 2021 - 0 shares; 2020 - 3,430,757 shares
                                       
        class a common stock, 0.01 par value per share...
                        201,000 198,000 196,000 194,000 193,000 187,000 185,000 181,000 178,000 165,000 157,000 153,000 148,000 130,000 129,000 
        class b treasury stock, at cost: 2021 - 4,414,166 shares; 2020 - 3,430,757 shares
                        -75,749,000               
        class b treasury stock, at cost: 2021 - 4,021,123 shares; 2020 - 3,430,757 shares
                         -62,925,000              
        class b treasury stock, at cost: 2021 - 3,861,707 shares; 2020 - 3,430,757 shares
                          -57,996,000             
        accounts payable
                           1,358,000    271,000    607,000    
        accrued expenses
                           40,786,000    88,932,000    19,743,000    
        class b treasury stock, at cost: 2020 - 3,430,757 shares; 2019 - 2,655,882 shares
                           -47,080,000            
        accumulated other comprehensive loss
                           -7,460,000 -8,987,000 -8,403,000 -4,887,000  -45,000       
        investments
                            19,617,000 18,507,000 15,631,000  16,993,000 16,825,000 15,742,000  14,557,000 13,466,000 12,243,000 
        class b treasury stock, at cost: 2020 - 3,234,610 shares; 2019 - 2,655,882 shares
                            -42,576,000           
        class b treasury stock, at cost: 2020 - 3,143,649 shares; 2019 - 2,655,882 shares
                             -40,912,000          
        class b treasury stock, at cost: 2020 - 3,100,942 shares; 2019 - 2,655,882 shares
                              -40,173,000         
        available-for-sale securities, at fair value
                               771,000    601,000    
        trading securities, at fair value
                               18,305,000    12,719,000    
        class b treasury stock, at cost: 2019 - 2,655,882 shares; 2018 - 2,146,980 shares
                               -31,386,000        
        retained deficit
                               -34,705,000 -68,853,000 -90,926,000 -105,285,000 -119,709,000 -133,487,000 -153,580,000  
        class b treasury stock, at cost: 2019 - 2,400,337 shares; 2018 - 2,146,980 shares
                                -26,161,000       
        restricted cash
                                 71,917,000      
        class b treasury stock, at cost: 2019 - 2,183,837 shares; 2018 - 2,146,980 shares
                                 -22,160,000      
        class b treasury stock, at cost: 2019 - 2,176,088 shares; 2018 - 2,146,980 shares
                                  -22,037,000     
        stockholders' equity:
                                       
        class b treasury stock, at cost: 2018 - 2,146,980 shares; 2017 - 2,064,057 shares
                                   -21,719,000 -21,719,000   
        class b treasury stock, at cost: 2018 and 2017 - 2,064,057 shares
                                     -20,899,000  
        liabilities and stockholders’ equity
                                       
        stockholders’ equity:
                                       
        total stockholders’ equity
                                      398,826,000 
        total liabilities and stockholders’ equity
                                      785,145,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 
                                         
          cash flows from operating activities
                                         
          net income
        112,140,000 112,812,000 96,541,000 58,734,000 61,975,000 76,939,000 81,983,000 74,251,000 55,691,000 55,206,000 52,007,000 56,671,000 49,273,000 52,269,000 72,764,000 79,205,000 71,273,000 69,742,000 74,175,000 69,270,000 65,202,000 54,895,000 55,741,000 44,720,000 57,166,000 37,589,000 25,992,000 14,383,000 14,527,000 13,915,000 20,590,000 18,675,000 10,524,000 
          adjustments to reconcile net income to net cash from operating activities:
                                         
          provision for deferred income taxes
        6,984,000 2,073,000 12,737,000 12,168,000 7,275,000 5,865,000 10,910,000 10,175,000 5,566,000 4,307,000 5,229,000 7,307,000 4,696,000 5,315,000 9,306,000 13,139,000 7,894,000  5,493,000 4,354,000 6,269,000 9,160,000 13,532,000 4,725,000 7,182,000 -4,055,000 235,000 1,715,000 1,360,000 -835,000 2,746,000 -1,156,000 3,361,000 
          depreciation and amortization
        20,576,000 21,593,000 22,032,000 21,794,000 7,432,000 7,514,000 7,510,000 7,551,000 7,601,000 7,984,000 12,333,000 9,650,000 11,680,000 11,150,000 10,686,000 10,758,000 10,607,000 5,384,000 4,377,000 4,694,000 4,385,000 4,229,000 3,936,000 4,166,000 4,050,000 5,620,000 7,768,000 5,263,000 5,222,000 5,360,000 5,574,000 5,931,000 6,412,000 
          deferred financing costs, accretion expense and derivative gains/losses
        79,000 82,000 -3,461,000 -3,104,000 -3,068,000 -3,122,000 -3,122,000 -3,052,000 -3,097,000                         
          share-based and deferred compensation
        13,395,000                                 
          change in fair value of contingent consideration obligations
        3,537,000 3,064,000 3,841,000 1,092,000 3,406,000 294,000 -1,600,000 -8,200,000 12,200,000 4,000,000 10,336,000 1,500,000 7,400,000 -10,500,000 -26,600,000 -3,500,000 3,200,000 2,400,000 5,700,000 2,500,000 9,500,000 2,000,000 5,300,000 -5,500,000 19,900,000       
          unrealized depreciation (appreciation) on investments
        -907,000  -2,657,000 -4,338,000 835,000            452,000    -2,720,000  -837,000 -2,702,000 4,971,000    -1,458,000 3,133,000 -139,000 -246,000 124,000 
          noncash lease expense
        79,000 228,000 162,000 120,000 82,000      -126,000 -123,000 -91,000 -51,000 67,000 102,000 94,000                 
          changes in operating assets and liabilities:
                                         
          receivables
        -16,443,000  26,016,000 -63,259,000 4,289,000  3,738,000 -4,377,000 -10,459,000  -2,190,000 -7,025,000 -1,466,000  3,362,000 9,209,000 4,210,000  -4,489,000 -3,570,000 -6,730,000  -3,757,000 2,805,000 16,439,000  -11,300,000 261,000 -327,000  2,267,000 1,999,000 1,104,000 
          prepaid expenses
        -4,076,000 -3,322,000 -507,000 2,338,000 -271,000 -702,000 -953,000 290,000 -1,484,000 674,000 570,000 2,190,000 -3,118,000 -1,122,000 440,000 153,000 -1,260,000 -818,000 661,000 547,000 -695,000 -747,000 917,000 457,000 -1,857,000 -186,000 -868,000 94,000 -1,181,000 -171,000 361,000   
          other assets
        666,000 -1,231,000 520,000 665,000 666,000 -182,000 -72,000 -239,000 -240,000 49,760,000 -221,000 -1,216,000 -783,000 -1,802,000 -1,454,000 -6,000 -80,000    -25,000 32,000 -18,000 -793,000 -47,000   -101,000 3,000 -270,000 425,000 
          accounts payable and accrued expenses
        30,241,000 -8,168,000 -8,225,000 -15,197,000 13,836,000 -5,240,000 6,993,000 -6,848,000 6,625,000 -2,722,000 3,000,000 -3,096,000 8,484,000 1,198,000 5,250,000 -7,858,000 -8,819,000 8,827,000 4,908,000 -7,866,000 13,573,000  -21,545,000 -855,000 -11,760,000  66,179,000 2,849,000 5,685,000  -467,000 -4,386,000 2,166,000 
          accrued compensation and benefits
        -26,082,000 8,072,000 5,886,000 -9,542,000 -18,155,000 6,361,000 -8,832,000 6,034,000 -7,953,000 4,245,000 5,154,000 5,894,000 -18,173,000 6,995,000 5,916,000 5,004,000 -13,487,000 10,292,000 5,742,000 4,101,000 -14,987,000 6,374,000 6,887,000 3,109,000 -23,990,000 10,199,000 17,172,000 1,660,000 -10,331,000 74,000 6,386,000   
          other liabilities
        -19,235,000 27,244,000 -3,564,000 -22,041,000 -868,000 1,374,000 -1,186,000 -415,000 -302,000 -265,000 8,000 -109,000 -68,000 73,000 3,000 -801,000 -146,000 508,000 -499,000 536,000 -490,000 -358,000 -1,644,000 -437,000 239,000 1,344,000 1,646,000 -39,000 -80,000 256,000 -3,086,000 3,138,000 138,000 
          net cash from operating activities
        120,954,000 145,076,000 165,907,000 -6,592,000 81,094,000 91,811,000 99,780,000 79,704,000 68,684,000 97,101,000 91,628,000 77,406,000 64,156,000 67,092,000 103,064,000 90,242,000 74,813,000 112,135,000 99,889,000 84,538,000 79,634,000 67,896,000 61,809,000 68,989,000 51,922,000 59,699,000 118,407,000 31,340,000 17,938,000 34,448,000 40,305,000 33,720,000 25,872,000 
          capital expenditures
        -849,000 -599,000 -1,079,000 -890,000 -1,589,000 -155,000 -398,000 -225,000 -500,000 -796,000 -1,801,000 -2,000,000 -572,000 -959,000 -1,376,000 -1,734,000 -1,176,000 -4,376,000 -2,731,000 -5,174,000 -393,000 -1,013,000 -1,766,000 -4,572,000 -708,000 -2,319,000 -2,028,000 -408,000 -484,000 -804,000 -434,000 
          free cash flows
        120,105,000 144,477,000 164,828,000 -7,482,000 79,505,000 91,656,000 99,382,000 79,479,000 68,184,000 96,305,000 89,827,000 75,406,000 63,584,000 66,133,000 101,688,000 88,508,000 73,637,000 107,759,000 97,158,000 79,364,000 79,241,000 66,883,000 60,043,000 64,417,000 51,214,000 57,380,000 116,379,000 30,932,000 17,454,000 33,644,000 39,871,000 33,720,000 25,872,000 
          cash flows from investing activities
                                         
          purchases of property and equipment
        -849,000 -599,000 -1,079,000 -890,000 -1,589,000 -155,000 -398,000 -225,000 -500,000 -796,000 -1,801,000 -2,000,000 -572,000 -959,000 -1,376,000 -1,734,000 -1,176,000 -4,376,000 -2,731,000 -5,174,000 -393,000 -1,013,000 -1,766,000 -4,572,000 -708,000 -2,319,000 -2,028,000 -408,000 -484,000 -804,000 -434,000   
          purchases of investments
        -41,297,000  -8,822,000 -28,874,000 -1,526,000  -8,362,000 -1,170,000 -709,000  -5,070,000 -1,347,000 -2,945,000  -7,653,000 -7,678,000 -2,365,000  -3,852,000 -2,937,000 -2,626,000          -945,000   
          sales of investments
        58,820,000  9,403,000 55,992,000 1,431,000  8,692,000 790,000 299,000  4,522,000 971,000 1,971,000  7,024,000 6,932,000 1,249,000  3,247,000 2,111,000 1,909,000          16,000 180,000 448,000 
          net cash from investing activities
        16,674,000 -1,082,000 -458,000 79,800,000 -1,684,000 -2,396,000 -68,000 -605,000 -910,000 -1,570,000 -2,349,000 -2,376,000 -1,546,000 1,340,000 -505,000 -3,033,000 -4,119,000 -545,556,000 -3,715,000 -6,177,000 -1,140,000 -1,820,000 -3,589,000 -4,697,000 -2,234,000 -3,924,000 -843,377,000 -1,064,000 -1,447,000 -3,894,000 -2,363,000   
          cash flows from financing activities
                                         
          issuance of common stock
        1,847,000 118,000 342,000 831,000 549,000 1,684,000 1,718,000 2,209,000 3,272,000 874,000 2,154,000 1,490,000 1,770,000 1,672,000 9,366,000 1,771,000 1,302,000                 
          repurchase of common stock
        -127,229,000 -50,692,000 -118,510,000 -25,964,000 -451,000 -96,856,000 -1,632,000 -2,144,000 -2,946,000 -57,478,000 -1,909,000 -45,470,000 -34,442,000 -39,685,000 -32,130,000 -19,170,000 -10,193,000 -5,661,000 -8,183,000 -10,028,000 -7,661,000 -7,054,000 -9,764,000 -7,037,000 -6,020,000 -6,193,000 -5,816,000 -1,883,000 -1,643,000 -4,497,000 -2,961,000   
          payments of taxes related to net share settlement of equity awards
        -16,045,000  -2,171,000 -8,696,000 -885,000 -7,455,000 -3,873,000 -5,797,000 -9,284,000 -2,778,000 -4,141,000 -4,088,000 -7,687,000 -3,170,000 -19,341,000 -3,183,000 -5,373,000 -4,585,000 -11,026,000 -3,469,000 -7,614,000 -2,964,000 -1,265,000 -3,449,000 -4,431,000 -4,162,000 -3,261,000 -40,000 -196,000    
          payments of long-term senior debt
        -2,463,000 -2,463,000                                
          payment of dividends
        -41,565,000 -41,258,000 -42,073,000 -43,704,000 -29,926,000 -28,126,000 -26,603,000 -24,003,000 -22,384,000 -20,658,000 -21,162,000 -21,497,000 -22,110,000 -17,073,000 -17,388,000 -17,358,000 -17,381,000 -11,750,000 -10,771,000 -8,245,000 -6,393,000 -4,718,000 -4,510,000 -3,518,000 -3,490,000 -3,452,000 -3,919,000 -24,000 -41,000 -137,000 -497,000   
          payment of consideration for acquisition
        -39,943,000     -80,000,000                    1,000    
          net cash from financing activities
        -225,398,000 -96,031,000 -157,474,000 -141,266,000 -30,713,000 -150,753,000 -30,601,000 -40,067,000 -111,342,000 -80,040,000 -25,058,000 -69,565,000 -62,469,000 -97,108,000 -78,493,000 -82,940,000 -101,645,000 438,202,000 -63,015,000 -77,136,000 -70,834,000 -99,689,000 -57,176,000 -46,258,000 -49,573,000 -97,692,000 708,646,000 -1,196,000 -1,742,000 -4,193,000 -27,955,000   
          effect of changes of foreign exchange rate on cash and cash equivalents
        -71,000 -14,000 -104,000 321,000 179,000 -179,000 167,000 1,000 -42,000 69,000 -14,000 -20,000 23,000 178,000 -115,000 -101,000 -32,000 12,000 -41,000 11,000 -18,000 73,000 56,000 20,000 -106,000 75,000 -40,000 -14,000 21,000 -9,000 -10,000 -85,000 39,000 
          net increase in cash and cash equivalents
        -87,841,000    48,876,000 -61,517,000 69,278,000 39,033,000 -43,610,000 15,560,000 64,207,000 5,445,000 164,000 -28,498,000 23,951,000 4,168,000 -30,983,000 4,793,000 33,118,000 1,236,000 7,642,000 -33,540,000 1,100,000 18,054,000 9,000 -41,842,000 -16,364,000 29,066,000 14,770,000 26,352,000 9,977,000   
          cash and cash equivalents, beginning of period
        163,690,000 126,731,000 123,547,000 38,171,000 69,533,000 22,744,000 37,121,000   51,491,000 12,921,000 
          cash and cash equivalents, end of period
        75,849,000 47,949,000 7,871,000 -67,737,000 175,607,000 -61,517,000 69,278,000 39,033,000 79,937,000 15,560,000 64,207,000 5,445,000 38,335,000 -28,498,000 23,951,000 4,168,000 38,550,000 4,793,000 33,118,000 1,236,000 30,386,000 -33,540,000 1,100,000 18,054,000 37,130,000 -41,842,000   66,261,000 26,352,000 9,977,000 2,866,000 12,296,000 
          supplemental cash flow information
                                         
          cash paid for interest
        13,932,000 16,286,000 30,025,000 16,134,000 17,227,000 19,726,000 19,191,000 19,437,000 20,329,000 19,504,000 18,452,000 17,415,000 15,314,000 7,863,000 9,638,000 7,406,000 7,074,000 3,962,000 4,239,000 2,471,000 8,096,000 6,316,000 9,075,000 3,184,000 20,112,000 15,238,000 717,000 3,698,000 3,801,000 3,755,000 3,639,000 3,973,000 6,163,000 
          cash paid for income taxes
        1,529,000 17,619,000 11,928,000 41,835,000 1,503,000 12,462,000 9,683,000 28,983,000 1,125,000 4,683,000 9,542,000 23,470,000 995,000 9,608,000 2,963,000 22,142,000 1,012,000 6,016,000 14,956,000 33,350,000 831,000 10,083,000 24,460,000 1,924,000 1,345,000 15,094,000 2,664,000 6,533,000 343,000 6,284,000 6,872,000   
          unrealized (appreciation) on investments
                                         
          loss on debt extinguishment
            263,000       -239,000 369,000 963,000 1,555,000 669,000 1,146,000 2,781,000 1,196,000 758,000 -137,000 1,054,000 2,451,000    6,058,000 
          investment management fees receivable
                                         
          fund administration and distribution fees receivable
                                         
          other receivables
                                         
          deferred compensation plan liability
                                         
          purchases of deferred compensation plan investments
                                         
          sales of deferred compensation plan investments
                                         
          purchases of proprietary funds
                                         
          sales of proprietary funds
                                         
          cash acquired from acquisition
         40,000                               
          payments for withholding taxes for stock-based compensation awards
                                         
          payment of debt financing fees
         -495,000    -211,000                      -1,000 -78,000   
          proceeds from long-term senior debt
                                   359,100,000 
          noncash items
                                         
          operating lease right-of-use assets obtained in exchange for new operating lease liabilities
         -34,272,000   11,657,000 65,000 2,797,000      993,000 2,991,000                 
          non-cash investing and financing activities:
                                         
          issuance of 3.3 million shares of common stock and 19.7 million shares of preferred stock in connection with the acquisition of amundi us
         -2,358,000                               
          stock-based and deferred compensation
          15,972,000 13,978,000 3,660,000  5,725,000 4,289,000 5,842,000  3,779,000 5,452,000 5,904,000  3,779,000 2,203,000 4,792,000  4,303,000 7,005,000 9,471,000  4,741,000 6,674,000 2,772,000  5,185,000 4,819,000 3,924,000  5,084,000 5,181,000 4,253,000 
          net decrease in cash and cash equivalents
          7,871,000                               
          repayment of long-term senior debt
                        -70,000,000    -50,000,000   -32,287,000 -38,000,000 -85,000,000    -20,000,000   
          unrealized (appreciation) depreciation on investments
               145,000 -1,306,000 -1,175,000 682,000 -746,000 -629,000      371,000               
          loss on equity method investment
                     759,000 9,000 57,000  70,000 65,000 92,000       150,000 4,000 224,000 167,000 202,000 137,000 
          loss on disposal of property and equipment due to restructuring
                                         
          acquisition of business, net of cash acquired
                                         
          repayment and repurchases of long-term senior debt
                                         
          unrealized appreciation on investments
                                  477,000       
          repayments and repurchases of long-term senior debt
                          -35,000,000               
          repayments of long-term senior debt
                      -19,000,000                   
          deferred financing costs and derivative and accretion expense
                  1,067,000 1,057,000 1,047,000 1,082,000 1,099,000 1,125,000 1,171,000 775,000 811,000 861,000 983,000 1,057,000 1,105,000 1,132,000 1,174,000   623,000 593,000 605,000 624,000 651,000 995,000 
          acquisition of business and assets, net of cash acquired
                      -553,000 -327,000                 
          purchase of equity method investment
                       -1,500,000                 
          benefit from deferred income taxes
                                         
          gain on equity method investment
                                         
          (purchase) sale of equity method investment
                                         
          repayment of promissory note
                                 -96,000 -144,000 -144,000   
          cost of asset acquisition
                          -379,000 -177,000 -30,000             
          issuance of class a common stock
                                         
          issuance of class b common stock from exercise of stock options
                          1,892,000 1,553,000 790,000 1,505,000 1,428,000 1,000 1,693,000  1,961,000 735,000 221,000     
          receipt of consideration for acquisition
                               649,000         
          issuance of class a common stock, net of underwriter discount
                           53,000 44,000 42,000 35,000 32,000 26,000 18,000 15,000 16,000 13,000 156,549,000 
          loss on other receivable
                                     689,000 195,000   
          accounts payable
                                         
          accrued expenses
                                         
          sale of equity method investment
                             -23,000            
          payment of class a common stock deferred offering costs
                                     2,000   
          payment of equity awards modified to liabilities
                                         
          net gain on equity method investment
                                         
          purchases of trading securities
                              -1,611,000 -1,024,000 -2,617,000 -1,988,000 -1,552,000 -1,521,000 -1,533,000     
          sales of trading securities
                              1,289,000 899,000 1,091,000  907,000 865,000 570,000     
          purchases of available-for-sale securities
                              -1,000   -78,000       
          sales of available-for-sale securities
                                       
          acquisition of business
                                        
          receipt (payment) of consideration for acquisition
                                         
          amortization of deferred financing fees and accretion expense
                                         
          net loss on equity method investment
                                        
          disposal of property and equipment due to restructuring
                                         
          proceeds from sales of trading securities
                                         
          proceeds from sales of available-for-sale securities
                                         
          proceeds from (investments in) equity method investment
                                         
          issuance of common stock, net of costs
                                         
          issuance of class b common stock
                                     571,000 669,000 10,000 
          issuance of class a common stock under 2018 espp
                                     14,000    
          excess tax benefits on share-based compensation
                                         
          repayment of draw on line of credit
                                         
          deferred financing costs and accretion expense
                                         
          equity method investment
                                     -1,000,000 -1,000,000   
          cash, cash equivalents and restricted cash, beginning of period
                                         
          cash, cash equivalents and restricted cash, end of period
                                         
          reconciliation of cash, cash equivalents and restricted cash
                                         
          cash and cash equivalents
                                         
          restricted cash
                                         
          cash, cash equivalents and restricted cash at end of period
                                         
          supplemental disclosure of non-cash item
                                         
          class a common stock offering costs reclassed from prepaid expenses and accounts payable and accrued expenses to additional paid in capital
                                        4,123,000 
          purchase and sale of options
                                         
          proceeds from draw on line of credit
                                         
          supplemental disclosure of non-cash items
                                         
          promissory note issued for repurchase of common stock and equity awards
                                         
          class a common stock offering costs reclassed from prepaid expenses to additional paid in capital
                                        
          settlement of compensation liability with issuance of restricted share awards
                                        
          net cash used by financing activities