Redwood Investment Management LLC bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 13,997 shares of the business services provider’s stock, valued at approximately $2,184,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MORN. Grove Bank & Trust acquired a new stake in shares of Morningstar in the 2nd quarter valued at $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Morningstar in the first quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Morningstar during the 3rd quarter worth about $26,000. Osterweis Capital Management Inc. purchased a new position in shares of Morningstar in the 2nd quarter valued at about $29,000. Finally, Quarry LP raised its position in shares of Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock worth $41,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on MORN shares. Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. BMO Capital Markets restated an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. UBS Group cut their price target on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research note on Thursday, June 18th. Finally, Weiss Ratings upgraded Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.33.
Morningstar Stock Down 1.2%
MORN stock opened at $212.44 on Thursday. The stock has a market capitalization of $7.97 billion, a PE ratio of 20.12 and a beta of 0.99. The company has a fifty day moving average of $181.64 and a 200-day moving average of $177.33. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. Morningstar, Inc. has a one year low of $141.49 and a one year high of $265.73.
Morningstar (NASDAQ:MORN – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The firm had revenue of $663.20 million during the quarter, compared to the consensus estimate of $649.72 million.
Insider Activity
In other news, Chairman Joseph D. Mansueto sold 7,906 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total value of $1,662,315.56. Following the completion of the sale, the chairman directly owned 7,960,570 shares of the company’s stock, valued at $1,673,789,448.20. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 86,500 shares of company stock worth $17,824,451. Corporate 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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