StockNews.com Downgrades Morningstar (NASDAQ:MORN) to Hold

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

Separately, BMO Capital Markets decreased their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

Morningstar Stock Up 0.4 %

Morningstar stock opened at $302.01 on Wednesday. The firm has a market cap of $12.94 billion, a price-to-earnings ratio of 39.90 and a beta of 1.23. 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 has a 12 month low of $278.64 and a 12 month high of $365.00. The stock has a fifty day simple moving average of $313.96 and a two-hundred day simple moving average of $327.77.

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

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total value of $2,557,749.50. Following the sale, the chairman now directly owns 10,038,270 shares of the company’s stock, valued at approximately $2,833,301,707.50. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders sold 59,544 shares of company stock valued at $18,770,097. Company insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Morningstar by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 2,803,611 shares of the business services provider’s stock valued at $944,144,000 after purchasing an additional 51,598 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Morningstar by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock valued at $363,903,000 after acquiring an additional 130,087 shares during the last quarter. State Street Corp grew its position in Morningstar by 3.7% in the third quarter. State Street Corp now owns 804,293 shares of the business services provider’s stock worth $256,666,000 after acquiring an additional 28,698 shares in the last quarter. Wasatch Advisors LP raised its position in Morningstar by 13.9% during the third quarter. Wasatch Advisors LP now owns 696,023 shares of the business services provider’s stock valued at $222,115,000 after purchasing an additional 85,098 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Morningstar by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 561,431 shares of the business services provider’s stock valued at $189,116,000 after purchasing an additional 64,020 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

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.