Morningstar, Inc. (NASDAQ:MORN – Get Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday. The company traded as high as $248.25 and last traded at $247.4640, with a volume of 11,099 shares traded. The stock had previously closed at $244.25.
Analysts Set New Price Targets
A number of research firms recently weighed in on MORN. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings upgraded Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, BMO Capital Markets raised their target price on shares of Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.67.
Morningstar Stock Down 1.2%
The stock has a market capitalization of $9.06 billion, a P/E ratio of 19.14 and a beta of 0.91. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50 day moving average price of $208.52 and a 200-day moving average price of $186.89.
Morningstar (NASDAQ:MORN – Get Free Report) last issued its earnings results on Wednesday, October 28th. The business services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.44. Morningstar had a return on equity of 45.17% and a net margin of 17.00%. The business had revenue of $672.10 million during the quarter, compared to analyst estimates of $664.75 million.
Insider Activity at Morningstar
In other Morningstar news, Chairman Joseph Mansueto sold 7,906 shares of the business’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the sale, the chairman owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 82,882 shares of company stock valued at $17,921,727. Company insiders own 38.80% of the company’s stock.
Hedge Funds Weigh In On Morningstar
A number of hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its position in Morningstar by 12.2% in the third quarter. Russell Investments Group Ltd. now owns 8,860 shares of the business services provider’s stock valued at $1,684,000 after acquiring an additional 960 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Morningstar by 80.0% during the 3rd quarter. CENTRAL TRUST Co now owns 135 shares of the business services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of Morningstar during the 3rd quarter valued at $237,000. Ritholtz Wealth Management acquired a new stake in Morningstar in the 3rd quarter worth approximately $268,000. Finally, Lido Advisors LLC acquired a new position in shares of Morningstar in the third quarter valued at $305,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Morningstar Company Profile
Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.
Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.
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