Chicago Partners Investment Group LLC Makes New Investment in Morningstar, Inc. $MORN

Chicago Partners Investment Group LLC bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the second quarter, Holdings Channel reports. The fund bought 785 shares of the business services provider’s stock, valued at approximately $246,000.

A number of other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after purchasing an additional 34 shares during the period. Ballentine Partners LLC raised its stake in Morningstar by 3.4% during the first quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider’s stock worth $387,000 after purchasing an additional 42 shares during the period. MAI Capital Management raised its stake in Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after purchasing an additional 42 shares during the period. Compound Planning Inc. raised its stake in Morningstar by 6.6% during the first quarter. Compound Planning Inc. now owns 777 shares of the business services provider’s stock worth $233,000 after purchasing an additional 48 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its stake in Morningstar by 1.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 5,200 shares of the business services provider’s stock worth $1,559,000 after purchasing an additional 49 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 6,705 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the sale, the chairman directly owned 9,312,836 shares of the company’s stock, valued at $2,427,390,703.40. This represents a 0.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $355.00.

Morningstar Price Performance

Shares of MORN opened at $219.54 on Friday. Morningstar, Inc. has a 1-year low of $210.02 and a 1-year high of $365.00. The stock has a market cap of $9.26 billion, a PE ratio of 23.38 and a beta of 1.00. The firm has a 50-day simple moving average of $240.82 and a two-hundred day simple moving average of $273.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.19. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The firm had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million.

Morningstar 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.