Morningstar, Inc. $MORN Position Trimmed by Amalgamated Bank

Amalgamated Bank trimmed its stake in Morningstar, Inc. (NASDAQ:MORN) by 1.9% in the second quarter, Holdings Channel.com reports. The firm owned 12,542 shares of the business services provider’s stock after selling 247 shares during the quarter. Amalgamated Bank’s holdings in Morningstar were worth $3,937,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in MORN. Millennium Management LLC lifted its position in shares of Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock worth $162,168,000 after purchasing an additional 253,137 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Morningstar in the first quarter worth approximately $38,269,000. Assenagon Asset Management S.A. purchased a new stake in shares of Morningstar in the second quarter worth approximately $33,098,000. Panagora Asset Management Inc. lifted its position in shares of Morningstar by 4,970.8% in the first quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider’s stock worth $17,000,000 after purchasing an additional 55,574 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Morningstar by 688.9% in the first quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider’s stock worth $13,511,000 after purchasing an additional 39,344 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MORN shares. UBS Group reduced their price target on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday. BMO Capital Markets set a $250.00 price target on shares of Morningstar in a research report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Morningstar Trading Down 1.0%

Shares of NASDAQ MORN opened at $212.30 on Monday. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of 24.15 and a beta of 1.00. The business has a 50 day simple moving average of $236.18 and a 200 day simple moving average of $271.85. Morningstar, Inc. has a 52 week low of $202.89 and a 52 week high of $365.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.42 by $0.13. The business had revenue of $617.40 million during the quarter, compared to analysts’ expectations of $603.29 million. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,705 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the sale, the chairman 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 78,876 shares of company stock worth $20,535,128 over the last three months. 36.20% of the stock is owned by corporate insiders.

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.