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 to clients and investors on Tuesday.

Several other equities research analysts also recently weighed in on MORN. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research note on Wednesday, October 9th. UBS Group initiated coverage on Morningstar in a report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective for the company. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Down 1.2 %

NASDAQ MORN traded down $4.04 during midday trading on Tuesday, hitting $321.05. 90,677 shares of the company traded hands, compared to its average volume of 102,094. The company has a market cap of $13.77 billion, a PE ratio of 42.41 and a beta of 1.20. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar has a 52 week low of $269.51 and a 52 week high of $365.00. The company’s 50-day simple moving average is $343.96 and its 200-day simple moving average is $325.00.

Morningstar (NASDAQ:MORN) last posted its 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 net margin of 14.69% and a return on equity of 23.28%. The company had revenue of $569.40 million during the quarter.

Insider Buying and Selling

In other news, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the sale, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This represents a 15.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $328.22, for a total transaction 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. This trade represents a 0.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,661 shares of company stock worth $17,723,744 in the last 90 days. Insiders own 39.90% of the company’s stock.

Institutional Investors Weigh In On Morningstar

Several hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in shares of Morningstar in the 3rd quarter valued at about $30,000. Venturi Wealth Management LLC lifted its holdings in Morningstar by 101.7% in the third quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after acquiring an additional 61 shares during the period. Acadian Asset Management LLC boosted its position in Morningstar by 73.8% in the 2nd quarter. Acadian Asset Management LLC now owns 146 shares of the business services provider’s stock worth $43,000 after purchasing an additional 62 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Morningstar during the 3rd quarter worth approximately $58,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of Morningstar by 93.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after purchasing an additional 88 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

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.