Sanctuary Advisors LLC bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,295 shares of the business services provider’s stock, valued at approximately $514,000.
A number of other hedge funds and other institutional investors have also modified their holdings of MORN. Bank of America Corp DE lifted its stake in Morningstar by 11.7% during the first quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider’s stock worth $31,033,000 after purchasing an additional 19,264 shares during the last quarter. Callan Family Office LLC purchased a new stake in Morningstar during the 2nd quarter valued at approximately $846,000. WINTON GROUP Ltd purchased a new position in Morningstar during the 4th quarter worth $6,534,000. Thrivent Financial for Lutherans boosted its holdings in Morningstar by 176.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,185 shares of the business services provider’s stock valued at $7,629,000 after purchasing an additional 22,459 shares in the last quarter. Finally, Fluent Financial LLC increased its stake in Morningstar by 150.0% in the 2nd quarter. Fluent Financial LLC now owns 14,362 shares of the business services provider’s stock valued at $2,241,000 after purchasing an additional 8,618 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Morningstar
In other Morningstar news, Chairman Joseph D. Mansueto sold 7,906 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the transaction, the chairman owned 7,960,570 shares of the company’s stock, valued at approximately $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 at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 86,500 shares of company stock valued at $17,824,451. Corporate insiders own 38.80% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on Morningstar
Morningstar Stock Performance
MORN stock opened at $217.65 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The stock’s fifty day moving average is $184.22 and its two-hundred day moving average is $177.98. The stock has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.61 and a beta of 0.99. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $263.67.
Morningstar (NASDAQ:MORN – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $2.83 by $0.27. The company had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.
Morningstar Company 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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