Index Fund Advisors Inc. Invests $1.23 Million in Morningstar, Inc. $MORN

Index Fund Advisors Inc. bought a new stake in Morningstar, Inc. (NASDAQ:MORN) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,913 shares of the business services provider’s stock, valued at approximately $1,228,000.

A number of other institutional investors have also recently added to or reduced their stakes in MORN. Millennium Management LLC raised its holdings in shares of Morningstar by 88.0% in the 1st 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 during the period. Nuveen LLC acquired a new stake in Morningstar during the 1st quarter worth approximately $38,269,000. Assenagon Asset Management S.A. purchased a new position in Morningstar in the second quarter valued at approximately $33,098,000. Panagora Asset Management Inc. lifted its position in Morningstar by 4,970.8% during the first quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider’s stock valued at $17,000,000 after buying an additional 55,574 shares in the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Morningstar by 688.9% during the first quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider’s stock worth $13,511,000 after buying an additional 39,344 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MORN. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $355.00.

Morningstar Price Performance

MORN opened at $225.34 on Monday. Morningstar, Inc. has a twelve month low of $221.02 and a twelve month high of $365.00. The firm has a market cap of $9.50 billion, a price-to-earnings ratio of 24.00 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $249.02 and a 200 day simple moving average of $278.38.

Morningstar (NASDAQ:MORN) last posted 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 company had revenue of $605.10 million during the quarter, compared to analysts’ expectations of $605.84 million.

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 value of $1,747,658.25. Following the transaction, 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 document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is owned by insiders.

Morningstar Company 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.