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

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

Other analysts have also recently issued reports about the company. UBS Group initiated coverage on 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 set a $352.00 price target on shares of Morningstar in a research note on Wednesday, August 28th. Finally, Redburn Atlantic cut Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Price Performance

Shares of MORN stock traded up $0.15 during mid-day trading on Monday, hitting $354.30. The company had a trading volume of 154,356 shares, compared to its average volume of 119,827. 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 stock’s 50 day moving average price is $336.67 and its 200-day moving average price is $315.54. Morningstar has a 52-week low of $269.51 and a 52-week high of $359.50. The company has a market capitalization of $15.19 billion, a P/E ratio of 46.80 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 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 for the quarter.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’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 owns 10,845,718 shares of the company’s stock, valued at $3,559,781,561.96. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director William M. Lyons sold 750 shares of Morningstar stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total transaction of $248,910.00. Following the sale, the director now owns 12,840 shares of the company’s stock, valued at $4,261,339.20. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,019 shares of company stock valued at $19,531,012 in the last ninety days. 39.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of Morningstar in the 3rd quarter worth $30,000. Blue Trust Inc. grew its holdings in Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC bought a new position in Morningstar during the 2nd quarter worth about $35,000. DT Investment Partners LLC purchased a new position in Morningstar during the 2nd quarter valued at about $36,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

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.