Morningstar, Inc. (NASDAQ:MORN) Sees Significant Increase in Short Interest

Morningstar, Inc. (NASDAQ:MORN) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 697,600 shares, an increase of 24.4% from the February 28th total of 560,900 shares. Based on an average daily trading volume, of 152,000 shares, the days-to-cover ratio is currently 4.6 days. Currently, 2.8% of the company’s stock are short sold.

Morningstar Stock Performance

Shares of MORN stock traded up $1.64 during trading hours on Tuesday, reaching $301.51. 235,731 shares of the company traded hands, compared to its average volume of 127,053. The firm has a 50-day moving average price of $312.20 and a 200 day moving average price of $327.89. The company has a market cap of $12.92 billion, a P/E ratio of 39.83 and a beta of 1.23. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar has a 12-month low of $278.64 and a 12-month high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to analyst estimates of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be given a dividend of $0.455 per share. The ex-dividend date is Friday, April 4th. This represents a $1.82 annualized dividend and a dividend yield of 0.60%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. Morningstar’s dividend payout ratio (DPR) is presently 21.24%.

Wall Street Analyst Weigh In

A number of research firms have commented on MORN. BMO Capital Markets cut their target price on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of Morningstar stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $325.44, for a total value of $1,182,974.40. Following the completion of the sale, the chairman now directly owns 10,142,694 shares in the company, valued at $3,300,838,335.36. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 59,544 shares of company stock worth $18,770,097 over the last 90 days. 39.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Morningstar

Hedge funds have recently modified their holdings of the stock. Smartleaf Asset Management LLC increased its holdings in Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Morningstar in the fourth quarter worth about $28,000. R Squared Ltd purchased a new stake in shares of Morningstar in the fourth quarter worth about $40,000. V Square Quantitative Management LLC boosted its stake in Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after buying an additional 46 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in Morningstar during the 3rd quarter valued at approximately $58,000. Hedge funds and other institutional investors own 57.02% 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.