Morningstar (NASDAQ:MORN - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday.
A number of other brokerages have also recently commented on MORN. UBS Group assumed coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a "buy" rating and a $390.00 target price on the stock. Redburn Atlantic lowered shares of Morningstar from a "buy" rating to a "neutral" rating and set a $340.00 target price for the company. in a report on Wednesday, October 9th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $360.67.
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Morningstar Price Performance
MORN traded up $2.49 on Wednesday, hitting $327.07. 119,313 shares of the company's stock traded hands, compared to its average volume of 114,101. Morningstar has a one year low of $269.51 and a one year high of $365.00. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of 43.21 and a beta of 1.20. The company's 50 day simple moving average is $342.39 and its 200-day simple moving average is $326.08.
Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share for the quarter, missing analysts' consensus estimates of $2.01 by ($0.01). The firm had revenue of $569.40 million for the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.
Insider Transactions at Morningstar
In other news, CFO Jason Dubinsky sold 3,223 shares of the company's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $352.88, for a total value of $1,137,332.24. Following the completion of the sale, the chief financial officer now owns 17,304 shares of the company's stock, valued at approximately $6,106,235.52. This represents a 15.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $328.22, for a total transaction of $2,974,329.64. Following the transaction, the chairman now directly owns 10,845,718 shares in the company, valued at approximately $3,559,781,561.96. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,661 shares of company stock valued at $17,723,744. 37.70% of the stock is currently owned by company insiders.
Institutional Trading of Morningstar
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. raised its position in shares of Morningstar by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider's stock worth $1,895,000 after acquiring an additional 37 shares in the last quarter. Versant Capital Management Inc raised its holdings in Morningstar by 15.9% in the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider's stock worth $96,000 after purchasing an additional 39 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Morningstar by 3.4% during the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider's stock valued at $402,000 after buying an additional 41 shares during the last quarter. Planning Alternatives Ltd. ADV boosted its holdings in shares of Morningstar by 2.2% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider's stock valued at $719,000 after buying an additional 49 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of Morningstar by 15.7% in the 3rd quarter. UMB Bank n.a. now owns 413 shares of the business services provider's stock worth $132,000 after buying an additional 56 shares during the last quarter. Institutional investors own 57.02% of the company's stock.
About Morningstar
(
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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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