AlphaQuest LLC Decreases Stock Position in Morningstar, Inc. (NASDAQ:MORN)

AlphaQuest LLC reduced its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 92.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 979 shares of the business services provider’s stock after selling 11,764 shares during the period. AlphaQuest LLC’s holdings in Morningstar were worth $330,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MORN. Roberts Glore & Co. Inc. IL acquired a new position in shares of Morningstar during the 4th quarter worth approximately $205,000. OFI Invest Asset Management acquired a new position in shares of Morningstar in the fourth quarter worth $1,854,000. Naviter Wealth LLC acquired a new position in shares of Morningstar in the fourth quarter worth $519,000. PNC Financial Services Group Inc. boosted its stake in shares of Morningstar by 43.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,915 shares of the business services provider’s stock valued at $645,000 after acquiring an additional 579 shares during the last quarter. Finally, Bradyco Inc. acquired a new stake in shares of Morningstar during the fourth quarter valued at $1,638,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. BMO Capital Markets reduced their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 1,716 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $327.89, for a total value of $562,659.24. Following the transaction, the chairman now directly owns 10,151,120 shares in the company, valued at $3,328,450,736.80. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 59,542 shares of company stock worth $18,769,523 in the last quarter. 37.70% of the stock is owned by insiders.

Morningstar Stock Performance

NASDAQ MORN opened at $286.94 on Friday. The business’s 50-day moving average price is $318.39 and its 200 day moving average price is $328.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a twelve month low of $278.64 and a twelve month high of $365.00. The company has a market capitalization of $12.29 billion, a PE ratio of 37.90 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $580.81 million.

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.