Morningstar (NASDAQ:MORN) Downgraded to “Hold” Rating by StockNews.com

Morningstar (NASDAQ:MORN) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Separately, BMO Capital Markets cut their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

Morningstar Price Performance

MORN stock opened at $305.26 on Wednesday. The stock’s 50 day moving average is $315.01 and its two-hundred day moving average is $328.15. Morningstar has a 52-week low of $278.64 and a 52-week high of $365.00. The company has a market capitalization of $13.08 billion, a PE ratio of 40.33 and a beta of 1.23. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $580.81 million.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total value of $2,557,749.50. Following the transaction, the chairman now owns 10,038,270 shares of the company’s stock, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 59,544 shares of company stock worth $18,770,097 over the last 90 days. Insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its position in Morningstar by 0.7% during the 4th quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock valued at $1,895,000 after purchasing an additional 37 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Morningstar by 15.9% during the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 39 shares during the period. Deutsche Bank AG boosted its holdings in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider’s stock valued at $605,000 after acquiring an additional 42 shares during the period. V Square Quantitative Management LLC grew its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after acquiring an additional 46 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after acquiring an additional 50 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

About Morningstar

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.