Morningstar, Inc. (NASDAQ:MORN) Sees Significant Decrease in Short Interest

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 245,000 shares, a decline of 64.9% from the March 15th total of 697,600 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 170,800 shares, the short-interest ratio is currently 1.4 days.

Morningstar Stock Performance

Morningstar stock traded up $1.82 during midday trading on Friday, reaching $277.19. The stock had a trading volume of 190,959 shares, compared to its average volume of 132,436. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $11.87 billion, a PE ratio of 36.62 and a beta of 1.16. Morningstar has a 12 month low of $250.34 and a 12 month high of $365.00. The firm's 50-day moving average price is $296.50 and its 200 day moving average price is $323.22.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $580.81 million.

Morningstar Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th will be paid a $0.455 dividend. The ex-dividend date is Friday, April 4th. This represents a $1.82 annualized dividend and a yield of 0.66%. This is an increase from Morningstar's previous quarterly dividend of $0.41. Morningstar's dividend payout ratio (DPR) is currently 21.24%.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total value of $2,557,749.50. Following the sale, the chairman now owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In the last quarter, insiders sold 59,544 shares of company stock valued at $18,770,097. Corporate insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Morningstar

Several hedge funds and other institutional investors have recently modified their holdings of MORN. Cardinal Capital Management boosted its holdings in Morningstar by 2.3% in the 1st quarter. Cardinal Capital Management now owns 12,335 shares of the business services provider's stock valued at $3,699,000 after purchasing an additional 275 shares during the period. QRG Capital Management Inc. increased its position in shares of Morningstar by 17.9% in the first quarter. QRG Capital Management Inc. now owns 1,049 shares of the business services provider's stock worth $315,000 after purchasing an additional 159 shares during the last quarter. Precision Wealth Strategies LLC raised its stake in Morningstar by 8.9% in the first quarter. Precision Wealth Strategies LLC now owns 2,792 shares of the business services provider's stock valued at $837,000 after purchasing an additional 228 shares in the last quarter. Brown Miller Wealth Management LLC bought a new stake in Morningstar during the first quarter valued at approximately $200,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Morningstar by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock worth $540,000 after buying an additional 159 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MORN shares. StockNews.com cut Morningstar from a "buy" rating to a "hold" rating in a report on Friday, April 11th. BMO Capital Markets lowered their price target on Morningstar from $387.00 to $370.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd.

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.