Royce & Associates LP increased its position in Morningstar, Inc. (NASDAQ:MORN – Free Report) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 143,011 shares of the business services provider’s stock after buying an additional 3,635 shares during the period. Royce & Associates LP’s holdings in Morningstar were worth $31,078,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in MORN. AQR Capital Management LLC lifted its holdings in shares of Morningstar by 106.9% in the 3rd quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock valued at $141,119,000 after purchasing an additional 314,275 shares during the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Morningstar by 362.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider’s stock valued at $43,416,000 after purchasing an additional 146,693 shares during the last quarter. UBS Group AG lifted its holdings in shares of Morningstar by 88.4% in the 4th quarter. UBS Group AG now owns 295,347 shares of the business services provider’s stock valued at $64,182,000 after purchasing an additional 138,605 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Morningstar by 78.1% in the 3rd quarter. Two Sigma Investments LP now owns 286,175 shares of the business services provider’s stock valued at $66,395,000 after purchasing an additional 125,507 shares during the last quarter. Finally, Focus Partners Wealth lifted its holdings in shares of Morningstar by 2,899.4% in the 3rd quarter. Focus Partners Wealth now owns 128,855 shares of the business services provider’s stock valued at $29,896,000 after purchasing an additional 124,559 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on the company. BMO Capital Markets reduced their target price on Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. UBS Group set a $280.00 target price on Morningstar in a research note on Friday, February 13th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings downgraded Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $236.50.
Morningstar Stock Performance
MORN opened at $179.64 on Tuesday. The stock has a market cap of $6.83 billion, a P/E ratio of 18.29 and a beta of 0.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $174.96 and its 200 day simple moving average is $191.68. Morningstar, Inc. has a 1-year low of $149.08 and a 1-year high of $316.71.
Morningstar (NASDAQ:MORN – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.77. The business had revenue of $644.80 million for the quarter, compared to analysts’ expectations of $626.91 million. Morningstar had a return on equity of 33.14% and a net margin of 16.06%.
Insider Buying and Selling
In related news, CFO Michael Holt sold 270 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $166.05, for a total value of $44,833.50. Following the sale, the chief financial officer owned 12,326 shares in the company, valued at $2,046,732.30. This represents a 2.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 2,270 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $176.72, for a total value of $401,154.40. Following the completion of the sale, the chairman owned 8,043,492 shares in the company, valued at approximately $1,421,445,906.24. This represents a 0.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 74,392 shares of company stock worth $12,903,874. Insiders own 38.80% of the company’s stock.
Morningstar Profile
Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.
Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.
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