Morningstar (NASDAQ:MORN) Rating Lowered to Buy at BidaskClub

Morningstar (NASDAQ:MORN) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

Shares of NASDAQ:MORN traded up $1.47 during mid-day trading on Wednesday, hitting $157.60. 3,731 shares of the company traded hands, compared to its average volume of 82,409. The firm has a market cap of $6.75 billion, a P/E ratio of 40.80 and a beta of 0.81. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.63 and a current ratio of 1.63. Morningstar has a 52-week low of $99.67 and a 52-week high of $162.53. The firm’s 50 day simple moving average is $155.85 and its 200 day simple moving average is $141.16.

Morningstar (NASDAQ:MORN) last announced its earnings results on Thursday, July 25th. The business services provider reported $0.98 EPS for the quarter. The business had revenue of $273.90 million for the quarter. Morningstar had a return on equity of 17.36% and a net margin of 16.52%.



In related news, insider Joseph D. Mansueto sold 16,865 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $144.37, for a total transaction of $2,434,800.05. Following the sale, the insider now directly owns 21,894,456 shares in the company, valued at approximately $3,160,902,612.72. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph D. Mansueto sold 10,647 shares of the firm’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $145.01, for a total value of $1,543,921.47. Following the sale, the insider now owns 21,898,379 shares in the company, valued at $3,175,483,938.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 402,612 shares of company stock worth $60,789,401. Company insiders own 54.10% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Atria Investments LLC increased its holdings in Morningstar by 23.0% during the 2nd quarter. Atria Investments LLC now owns 10,368 shares of the business services provider’s stock worth $1,599,000 after purchasing an additional 1,936 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Morningstar by 9.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 7,880 shares of the business services provider’s stock worth $1,140,000 after purchasing an additional 650 shares during the last quarter. Empire Life Investments Inc. increased its holdings in Morningstar by 2.0% during the 2nd quarter. Empire Life Investments Inc. now owns 4,184 shares of the business services provider’s stock worth $605,000 after purchasing an additional 84 shares during the last quarter. Cresset Asset Management LLC increased its holdings in Morningstar by 133.1% during the 2nd quarter. Cresset Asset Management LLC now owns 1,485 shares of the business services provider’s stock worth $215,000 after purchasing an additional 848 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its holdings in Morningstar by 5.8% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 2,229 shares of the business services provider’s stock worth $322,000 after purchasing an additional 122 shares during the last quarter. Institutional investors own 43.98% of the company’s stock.

Morningstar Company Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

Read More: Certificate of Deposit (CD)

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