Morningstar (MORN) Rating Lowered to Buy at BidaskClub
Morningstar (NASDAQ:MORN) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
Shares of Morningstar (NASDAQ:MORN) traded up $0.55 during midday trading on Thursday, hitting $97.32. 27,624 shares of the stock were exchanged, compared to its average volume of 48,628. The firm has a market capitalization of $4,139.02, a PE ratio of 24.89 and a beta of 0.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.69 and a quick ratio of 1.69. Morningstar has a 1-year low of $68.43 and a 1-year high of $99.11.
Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 25th. The business services provider reported $0.79 EPS for the quarter. Morningstar had a net margin of 19.11% and a return on equity of 15.43%.
In related news, Director Jack Noonan sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $85.46, for a total transaction of $1,709,200.00. Following the completion of the sale, the director now directly owns 3,344 shares in the company, valued at $285,778.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $87.00, for a total transaction of $43,500.00. Following the sale, the director now owns 47,921 shares of the company’s stock, valued at $4,169,127. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,500 shares of company stock valued at $2,224,600. 57.40% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in MORN. Kayne Anderson Rudnick Investment Management LLC increased its position in Morningstar by 81.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 712,933 shares of the business services provider’s stock worth $60,592,000 after purchasing an additional 320,835 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Morningstar by 19.2% during the second quarter. Dimensional Fund Advisors LP now owns 315,221 shares of the business services provider’s stock valued at $24,695,000 after acquiring an additional 50,747 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Morningstar during the third quarter valued at about $3,221,000. First Trust Advisors LP acquired a new stake in shares of Morningstar during the third quarter valued at about $2,975,000. Finally, Russell Investments Group Ltd. increased its position in shares of Morningstar by 30.3% during the third quarter. Russell Investments Group Ltd. now owns 127,784 shares of the business services provider’s stock valued at $10,860,000 after acquiring an additional 29,743 shares during the last quarter. Hedge funds and other institutional investors own 38.65% of the company’s stock.
Morningstar Company Profile
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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