Morningstar (NASDAQ:MORN – Get Free Report) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.
Morningstar Stock Performance
Shares of NASDAQ MORN opened at $313.72 on Thursday. 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 stock has a market capitalization of $13.45 billion, a price-to-earnings ratio of 41.44 and a beta of 1.20. The stock’s fifty day simple moving average is $327.62 and its 200 day simple moving average is $330.03. Morningstar has a 52-week low of $281.37 and a 52-week high of $365.00.
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 analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million for the quarter, compared to analysts’ expectations of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.
Insider Activity
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of MORN. Norges Bank purchased a new position in shares of Morningstar during the fourth quarter valued at $111,694,000. Balyasny Asset Management L.P. purchased a new position in Morningstar in the fourth quarter valued at about $56,584,000. Premier Fund Managers Ltd purchased a new position in Morningstar in the fourth quarter valued at about $50,694,000. Wellington Management Group LLP grew its stake in Morningstar by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,080,599 shares of the business services provider’s stock valued at $363,903,000 after purchasing an additional 130,087 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Morningstar by 9.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after purchasing an additional 102,206 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.
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.
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