StockNews.com Upgrades Morningstar (NASDAQ:MORN) to Buy

Morningstar (NASDAQ:MORN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Separately, BMO Capital Markets decreased their price target on Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd.

Morningstar Trading Up 0.1 %

NASDAQ:MORN opened at $301.88 on Thursday. Morningstar has a 1 year low of $278.64 and a 1 year high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The stock has a fifty day moving average price of $311.65 and a two-hundred day moving average price of $327.70. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 39.88 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $327.89, for a total transaction of $562,659.24. Following the sale, the chairman now owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. This represents a 0.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 59,544 shares of company stock worth $18,770,097. 39.90% of the stock is owned by corporate insiders.

Institutional Trading of Morningstar

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Morningstar by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock valued at $158,772,000 after purchasing an additional 10,437 shares during the last quarter. Smith Group Asset Management LLC purchased a new stake in shares of Morningstar during the fourth quarter worth about $468,000. Oak Thistle LLC raised its position in shares of Morningstar by 194.9% in the fourth quarter. Oak Thistle LLC now owns 4,276 shares of the business services provider’s stock valued at $1,440,000 after buying an additional 2,826 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Morningstar by 29.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 1,073 shares of the business services provider’s stock valued at $361,000 after buying an additional 244 shares during the period. Finally, Barclays PLC boosted its position in Morningstar by 19.9% during the third quarter. Barclays PLC now owns 16,563 shares of the business services provider’s stock worth $5,286,000 after acquiring an additional 2,751 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

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.