CI Investments Inc. Has $387,000 Position in Morningstar, Inc. $MORN

CI Investments Inc. reduced its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 93.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,292 shares of the business services provider’s stock after selling 32,836 shares during the period. CI Investments Inc.’s holdings in Morningstar were worth $387,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Osterweis Capital Management Inc. purchased a new stake in shares of Morningstar during the second quarter worth $29,000. Measured Wealth Private Client Group LLC purchased a new position in Morningstar in the third quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Morningstar in the 4th quarter worth about $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Morningstar during the 1st quarter worth about $26,000. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Morningstar during the 4th quarter valued at about $35,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Stock Performance

NASDAQ:MORN opened at $172.61 on Friday. The firm has a market capitalization of $6.56 billion, a PE ratio of 17.58 and a beta of 1.01. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $289.63. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The firm’s fifty day simple moving average is $170.53 and its 200 day simple moving average is $178.12.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.77. Morningstar had a net margin of 16.06% and a return on equity of 33.14%. The firm had revenue of $644.80 million during the quarter, compared to analyst estimates of $626.91 million.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MORN shares. UBS Group dropped their price target on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, BMO Capital Markets restated an “outperform” rating and set a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Morningstar currently has an average rating of “Moderate Buy” and an average target price of $227.33.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $166.23, for a total transaction of $1,205,167.50. Following the completion of the transaction, the chairman owned 8,114,492 shares of the company’s stock, valued at approximately $1,348,872,005.16. The trade was a 0.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 64,720 shares of company stock valued at $11,169,471 in the last 90 days. Insiders own 38.80% of the company’s stock.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.