StockNews.com Downgrades Morningstar (NASDAQ:MORN) to Hold

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

Separately, BMO Capital Markets lowered 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 Stock Performance

Shares of MORN traded up $4.15 during mid-day trading on Monday, hitting $291.09. The company’s stock had a trading volume of 275,639 shares, compared to its average volume of 115,063. The stock’s 50-day moving average is $317.71 and its two-hundred day moving average is $328.70. The firm has a market capitalization of $12.47 billion, a PE ratio of 38.45 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 has a one year low of $278.64 and a one year high of $365.00.

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

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 1,716 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 10,151,120 shares in the company, valued at $3,328,450,736.80. This trade represents a 0.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 59,544 shares of company stock worth $18,770,097. Corporate insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its holdings in shares of Morningstar by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock worth $5,056,000 after purchasing an additional 1,789 shares during the last quarter. KBC Group NV boosted its position in Morningstar by 10.8% in the third quarter. KBC Group NV now owns 689 shares of the business services provider’s stock valued at $220,000 after buying an additional 67 shares in the last quarter. CIBC Asset Management Inc boosted its position in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock valued at $402,000 after buying an additional 41 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in Morningstar by 120.3% during the third quarter. Thrivent Financial for Lutherans now owns 13,879 shares of the business services provider’s stock worth $4,428,000 after buying an additional 7,579 shares during the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Morningstar by 1,274,200.0% during the third quarter. Quest Partners LLC now owns 12,743 shares of the business services provider’s stock worth $4,067,000 after buying an additional 12,742 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

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.