Morningstar (NASDAQ:MORN) Rating Lowered to Neutral at Redburn Atlantic

Morningstar (NASDAQ:MORN) was downgraded by equities researchers at Redburn Atlantic from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, Marketbeat.com reports. They presently have a $340.00 target price on the business services provider’s stock. Redburn Atlantic’s price target points to a potential upside of 1.77% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. UBS Group assumed coverage on shares of Morningstar in a report on Tuesday. They issued a “buy” rating and a $390.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and a consensus target price of $360.67.

Morningstar Trading Down 0.4 %

MORN opened at $334.09 on Wednesday. The stock has a market capitalization of $14.31 billion, a P/E ratio of 58.51 and a beta of 1.19. Morningstar has a 12 month low of $219.45 and a 12 month high of $336.58. The firm’s fifty day simple moving average is $313.54 and its 200 day simple moving average is $304.33. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.63.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $2.01 EPS for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The firm had revenue of $571.90 million for the quarter.

Insider Activity at Morningstar

In related news, CRO Daniel Joseph Dunn sold 1,600 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total value of $513,424.00. Following the transaction, the executive now owns 12,967 shares in the company, valued at approximately $4,160,980.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares in the company, valued at $4,160,980.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 1,144 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $317.03, for a total transaction of $362,682.32. Following the transaction, the chairman now owns 10,640,768 shares in the company, valued at approximately $3,373,442,679.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,541 shares of company stock worth $18,399,192. Insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MORN. Millennium Management LLC grew its position in shares of Morningstar by 154.0% during the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after purchasing an additional 194,122 shares in the last quarter. M&G Plc acquired a new stake in shares of Morningstar during the 1st quarter worth approximately $52,293,000. Wellington Management Group LLP boosted its position in shares of Morningstar by 45.9% during the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after acquiring an additional 160,281 shares in the last quarter. Norden Group LLC boosted its position in shares of Morningstar by 3,164.9% during the 1st quarter. Norden Group LLC now owns 129,257 shares of the business services provider’s stock worth $39,860,000 after acquiring an additional 125,298 shares in the last quarter. Finally, Confluence Investment Management LLC acquired a new stake in shares of Morningstar during the 1st quarter worth approximately $20,986,000. Institutional investors and hedge funds own 57.02% of the company’s stock.

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.