Morningstar, Inc. $MORN Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 25.8% in the 2nd quarter, Holdings Channel reports. The fund owned 640,132 shares of the business services provider’s stock after selling 222,127 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Morningstar were worth $200,957,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 34 shares during the last quarter. MAI Capital Management boosted its stake in shares of Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock valued at $46,000 after buying an additional 42 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Morningstar by 6.6% during the 1st quarter. Compound Planning Inc. now owns 777 shares of the business services provider’s stock valued at $233,000 after buying an additional 48 shares during the last quarter. Blue Trust Inc. grew its position in shares of Morningstar by 28.8% during the second quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock worth $72,000 after buying an additional 51 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Morningstar by 14.5% in the second quarter. Signaturefd LLC now owns 410 shares of the business services provider’s stock worth $129,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Trading Down 0.9%

NASDAQ MORN opened at $211.95 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. Morningstar, Inc. has a one year low of $202.89 and a one year high of $365.00. The company has a 50-day simple moving average of $226.91 and a 200-day simple moving average of $267.36. The firm has a market capitalization of $8.72 billion, a PE ratio of 24.11 and a beta of 1.06.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.13. The firm had revenue of $617.40 million for the quarter, compared to analysts’ expectations of $603.29 million. Morningstar had a net margin of 15.70% and a return on equity of 24.68%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Finally, BMO Capital Markets set a $250.00 price objective on Morningstar in a research note on Thursday, October 30th. Two 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 currently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 6,848 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $215.30, for a total transaction of $1,474,374.40. Following the completion of the transaction, the chairman directly owned 8,639,456 shares in the company, valued at $1,860,074,876.80. This represents a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 67,004 shares of company stock valued at $15,611,197. Company insiders own 36.20% of the company’s stock.

Morningstar Company 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.