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

AlphaQuest LLC reduced its holdings in shares of Morningstar, Inc. (NASDAQ:MORNFree Report) 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.

Check Out Our Latest Analysis on Morningstar

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:MORNGet Free Report) 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

(Free Report)

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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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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