Voleon Capital Management LP Has $6.28 Million Stake in Morningstar, Inc. $MORN

Voleon Capital Management LP trimmed its position in Morningstar, Inc. (NASDAQ:MORN) by 4.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,930 shares of the business services provider’s stock after selling 985 shares during the period. Voleon Capital Management LP’s holdings in Morningstar were worth $6,276,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of MORN. Millennium Management LLC lifted its holdings in shares of Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock valued at $162,168,000 after purchasing an additional 253,137 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Morningstar by 30,785.9% in the first quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider’s stock valued at $43,252,000 after purchasing an additional 143,770 shares in the last quarter. Nuveen LLC bought a new stake in shares of Morningstar in the first quarter valued at about $38,269,000. Panagora Asset Management Inc. lifted its holdings in shares of Morningstar by 4,970.8% in the first quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider’s stock valued at $17,000,000 after purchasing an additional 55,574 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Morningstar by 688.9% in the first quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider’s stock valued at $13,511,000 after purchasing an additional 39,344 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MORN. BMO Capital Markets boosted their price target on Morningstar from $339.00 to $355.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Wall Street Zen lowered Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $361.67.

Morningstar Stock Performance

MORN opened at $257.24 on Monday. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The firm has a market capitalization of $10.85 billion, a PE ratio of 27.40 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The business’s 50-day simple moving average is $276.26 and its 200 day simple moving average is $289.37.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 6,705 shares of the company’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the sale, the chairman owned 9,312,836 shares in the company, valued at approximately $2,427,390,703.40. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 85,500 shares of company stock worth $22,341,957 in the last 90 days. Corporate insiders own 36.20% of the company’s stock.

Morningstar 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.