Jupiter Topco LLC Makes New $14.26 Million Investment in Morningstar, Inc. $MORN

Jupiter Topco LLC purchased a new stake in Morningstar, Inc. (NASDAQ:MORN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 91,390 shares of the business services provider’s stock, valued at approximately $14,263,000. Jupiter Topco LLC owned 0.24% of Morningstar at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MORN. Grove Bank & Trust purchased a new stake in shares of Morningstar in the second quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new position in Morningstar during the first quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new position in Morningstar during the third quarter worth about $26,000. Osterweis Capital Management Inc. bought a new position in Morningstar in the 2nd quarter worth about $29,000. Finally, Quarry LP increased its stake in Morningstar by 51.2% in the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock worth $41,000 after acquiring an additional 64 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen downgraded Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group lowered their target price 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. Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research note on Thursday, June 18th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a report on Friday, June 26th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Morningstar has an average rating of “Moderate Buy” and a consensus target price of $227.33.

Morningstar Trading Down 0.5%

NASDAQ MORN opened at $217.65 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a 50-day moving average of $184.22 and a 200-day moving average of $177.98. The firm has a market cap of $8.16 billion, a PE ratio of 20.61 and a beta of 0.99. Morningstar, Inc. has a 1-year low of $141.49 and a 1-year high of $263.67.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. The firm had revenue of $663.20 million during the quarter, compared to analyst estimates of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,906 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total value of $1,662,315.56. Following the completion of the sale, the chairman owned 7,960,570 shares of the company’s stock, valued at $1,673,789,448.20. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 86,500 shares of company stock worth $17,824,451 in the last ninety days. 38.80% of the stock is owned by corporate insiders.

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.