Morningstar (NASDAQ:MORN) Raised to “Buy” at StockNews.com

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

Other equities analysts have also issued reports about the stock. UBS Group assumed coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price on the stock. in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and an average price target of $360.67.

Morningstar Stock Performance

Shares of Morningstar stock opened at $339.81 on Friday. The business has a 50-day simple moving average of $344.42 and a 200-day simple moving average of $322.53. 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 $269.51 and a one year high of $365.00. The company has a market cap of $14.57 billion, a PE ratio of 44.89 and a beta of 1.19.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $569.40 million for the quarter.

Insider Activity at Morningstar

In related news, CFO Jason Dubinsky sold 3,223 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $352.88, for a total value of $1,137,332.24. Following the sale, the chief financial officer now owns 17,304 shares of the company’s stock, valued at approximately $6,106,235.52. This represents a 15.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value of $248,910.00. Following the transaction, the director now directly owns 12,840 shares of the company’s stock, valued at $4,261,339.20. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,411 shares of company stock valued at $17,961,104 in the last ninety days. Corporate insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Asset Management Inc raised its position in shares of 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 during the last quarter. Legacy Advisors LLC grew its stake in Morningstar by 1.6% in the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after acquiring an additional 49 shares during the period. Planning Alternatives Ltd. ADV raised its holdings in Morningstar by 2.2% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock valued at $719,000 after acquiring an additional 49 shares during the last quarter. George Kaiser Family Foundation lifted its stake in shares of Morningstar by 0.7% during the 2nd quarter. George Kaiser Family Foundation now owns 7,693 shares of the business services provider’s stock worth $2,276,000 after purchasing an additional 55 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of Morningstar by 15.7% during the 3rd quarter. UMB Bank n.a. now owns 413 shares of the business services provider’s stock worth $132,000 after purchasing an additional 56 shares during the period. 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.