Morningstar (NASDAQ:MORN) Cut to “Hold” at StockNews.com

Morningstar (NASDAQ:MORN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

Several other research analysts also recently weighed in on the stock. UBS Group began coverage on shares of Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research report on Wednesday, August 28th. Finally, Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective for the company. in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Stock Up 0.7 %

Shares of MORN stock traded up $2.38 on Friday, reaching $340.32. 351,481 shares of the company were exchanged, compared to its average volume of 121,952. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. The company has a 50-day moving average of $344.78 and a 200-day moving average of $320.84. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 44.96 and a beta of 1.19. Morningstar has a one year low of $269.51 and a one year high of $365.00.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $569.40 million during the quarter.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $328.22, for a total value of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares of the company’s stock, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Dubinsky sold 3,223 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the transaction, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. The trade was a 15.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,411 shares of company stock worth $17,961,104. 39.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in shares of Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after buying an additional 102,206 shares during the period. Wasatch Advisors LP lifted its position in shares of Morningstar by 13.9% during the 3rd quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after buying an additional 85,098 shares during the last quarter. Boston Financial Mangement LLC bought a new position in shares of Morningstar during the 3rd quarter worth $19,666,000. Finally, FMR LLC increased its holdings in Morningstar by 10.9% in the 3rd quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after acquiring an additional 39,263 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

About Morningstar

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.