StockNews.com Downgrades Morningstar (NASDAQ:MORN) to Hold

Morningstar (NASDAQ:MORN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Several other analysts also recently issued reports on MORN. UBS Group assumed coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic downgraded Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Stock Performance

NASDAQ MORN opened at $340.32 on Friday. The business has a 50 day moving average price of $344.78 and a 200 day moving average price of $321.04. The company has a market capitalization of $14.59 billion, a P/E ratio of 44.96 and a beta of 1.19. Morningstar has a 1-year low of $269.51 and a 1-year high of $365.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). The firm had revenue of $569.40 million for the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at $3,559,781,561.96. This represents a 0.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jason Dubinsky sold 3,223 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,411 shares of company stock valued at $17,961,104. Company insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of Morningstar by 326.9% in the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after buying an additional 85 shares during the period. Nisa Investment Advisors LLC increased its stake in Morningstar by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after acquiring an additional 54 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Morningstar by 55.6% in the 2nd quarter. Fifth Third Bancorp now owns 364 shares of the business services provider’s stock worth $108,000 after purchasing an additional 130 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Morningstar in the 2nd quarter valued at about $229,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Morningstar by 23.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,505 shares of the business services provider’s stock worth $1,925,000 after purchasing an additional 1,234 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.