Morningstar (NASDAQ:MORN) Stock Rating Lowered by StockNews.com

Morningstar (NASDAQ:MORNGet Free Report) 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 Friday.

Other equities research analysts have also recently issued reports about the company. Redburn Atlantic cut 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. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research note on Wednesday, August 28th. Finally, UBS Group began coverage on Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 target price for the company. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $360.67.

Get Our Latest Analysis on MORN

Morningstar Price Performance

Shares of MORN traded up $2.38 during trading hours on Friday, hitting $340.32. 351,481 shares of the company were exchanged, compared to its average volume of 121,952. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar has a fifty-two week low of $269.51 and a fifty-two week high of $365.00. The company has a market cap of $14.59 billion, a price-to-earnings ratio of 44.96 and a beta of 1.19. The firm’s fifty day moving average is $344.78 and its 200 day moving average is $320.84.

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

Insiders Place Their Bets

In related news, CFO Jason Dubinsky sold 3,223 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $352.88, for a total transaction of $1,137,332.24. Following the completion of the transaction, the chief financial officer now directly owns 17,304 shares of the company’s stock, valued at $6,106,235.52. This trade represents a 15.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William M. Lyons sold 750 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the sale, the director now owns 13,590 shares in the company, valued at $4,300,963.20. This trade represents a 5.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,411 shares of company stock valued at $17,961,104 in the last 90 days. Corporate insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in Morningstar by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after acquiring an additional 41 shares during the last quarter. Legacy Advisors LLC boosted its position in shares of Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after purchasing an additional 49 shares in the last quarter. Planning Alternatives Ltd. ADV grew its stake in Morningstar by 2.2% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock worth $719,000 after purchasing an additional 49 shares during the period. Nisa Investment Advisors LLC increased its holdings in Morningstar by 38.0% in the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after purchasing an additional 54 shares in the last quarter. Finally, George Kaiser Family Foundation increased its holdings in Morningstar by 0.7% in the second quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider’s stock worth $2,276,000 after purchasing an additional 55 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

About Morningstar

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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.

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