Morningstar (NASDAQ:MORN) Rating Lowered to Hold at StockNews.com

Morningstar (NASDAQ:MORN) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other equities analysts have also issued research reports about the stock. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research report on Wednesday, October 9th. UBS Group initiated coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Price Performance

Shares of NASDAQ MORN opened at $346.21 on Friday. The business has a 50 day simple moving average of $332.50 and a 200-day simple moving average of $313.06. Morningstar has a twelve month low of $269.51 and a twelve month high of $352.55. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 45.73 and a beta of 1.18. 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 (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01). The business had revenue of $569.40 million during the quarter. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Insider Transactions at Morningstar

In related news, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $316.48, for a total transaction of $237,360.00. Following the completion of the transaction, the director now owns 13,590 shares of the company’s stock, valued at $4,300,963.20. This trade represents a 5.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 5,724 shares of Morningstar stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $311.27, for a total value of $1,781,709.48. Following the transaction, the chairman now directly owns 10,551,498 shares in the company, valued at approximately $3,284,364,782.46. The trade was a 0.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 61,541 shares of company stock valued at $20,234,838. Company insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

Hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in Morningstar during the third quarter worth approximately $30,000. Blue Trust Inc. boosted its stake in shares of Morningstar by 326.9% during the 2nd quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock worth $34,000 after acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC acquired a new stake in shares of Morningstar during the second quarter worth $35,000. DT Investment Partners LLC purchased a new stake in shares of Morningstar during the second quarter valued at $36,000. Finally, Venturi Wealth Management LLC boosted its position in shares of Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Company Profile

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.