Morningstar (NASDAQ:MORN) Downgraded by StockNews.com to “Hold”

Morningstar (NASDAQ:MORN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, BMO Capital Markets decreased their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a report on Monday, March 3rd.

Morningstar Stock Performance

Morningstar stock opened at $302.01 on Wednesday. Morningstar has a 1-year low of $278.64 and a 1-year high of $365.00. The company’s 50-day moving average is $313.96 and its 200 day moving average is $327.77. The firm has a market capitalization of $12.94 billion, a P/E ratio of 39.90 and a beta of 1.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data 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. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 1,716 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $327.89, for a total transaction of $562,659.24. Following the transaction, the chairman now directly owns 10,151,120 shares in the company, valued at approximately $3,328,450,736.80. This trade represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 59,544 shares of company stock worth $18,770,097. Company insiders own 39.90% of the company’s stock.

Hedge Funds Weigh In On Morningstar

A number of large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 10,437 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Morningstar by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after purchasing an additional 5,045 shares during the last quarter. Quantbot Technologies LP grew its stake in Morningstar by 259.3% in the third quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock valued at $4,394,000 after purchasing an additional 9,937 shares during the last quarter. Smith Group Asset Management LLC bought a new position in Morningstar in the fourth quarter worth about $468,000. Finally, Oak Thistle LLC lifted its position in shares of Morningstar by 194.9% during 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. 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.