Parnassus Investments LLC reduced its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,111 shares of the business services provider's stock after selling 923 shares during the period. Parnassus Investments LLC owned approximately 0.16% of Morningstar worth $23,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of MORN. Massachusetts Financial Services Co. MA boosted its stake in shares of Morningstar by 9.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider's stock worth $383,489,000 after buying an additional 102,206 shares during the last quarter. Wasatch Advisors LP lifted 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 in the last quarter. Raymond James Financial Inc. purchased a new position in Morningstar during the fourth quarter valued at $16,497,000. FMR LLC lifted its position in Morningstar by 10.9% during the third quarter. FMR LLC now owns 400,520 shares of the business services provider's stock valued at $127,814,000 after purchasing an additional 39,263 shares in the last quarter. Finally, DF Dent & Co. Inc. lifted its position in Morningstar by 61.3% during the third quarter. DF Dent & Co. Inc. now owns 88,378 shares of the business services provider's stock valued at $28,203,000 after purchasing an additional 33,595 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Morningstar Price Performance
Shares of Morningstar stock traded up $4.45 during trading hours on Friday, hitting $286.94. The company's stock had a trading volume of 170,970 shares, compared to its average volume of 145,532. The business has a 50 day moving average price of $318.39 and a two-hundred day moving average price of $328.72. Morningstar, Inc. has a 12-month low of $278.64 and a 12-month high of $365.00. The company has a market cap of $12.29 billion, a PE ratio of 37.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.
Morningstar (NASDAQ:MORN - Get Free Report) last issued 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 return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $591.00 million for the quarter, compared to analysts' expectations of $580.81 million.
Insider Buying and Selling at Morningstar
In other Morningstar news, Chairman Joseph D. Mansueto sold 1,280 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $320.57, for a total transaction of $410,329.60. Following the sale, the chairman now directly owns 10,130,378 shares in the company, valued at $3,247,495,275.46. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold a total of 59,542 shares of company stock worth $18,769,523 over the last ninety days. Company insiders own 39.90% of the company's stock.
Analyst Upgrades and Downgrades
MORN has been the topic of several analyst reports. BMO Capital Markets lowered their target price on Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. StockNews.com upgraded Morningstar from a "hold" rating to a "buy" rating in a research report on Thursday, February 27th.
Check Out Our Latest Analysis on MORN
Morningstar Profile
(
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.
Further Reading
Before you consider Morningstar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Morningstar wasn't on the list.
While Morningstar currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
