Morningstar (NASDAQ:MORN) Stock Price Down 7.6% – Here’s Why

Morningstar, Inc. (NASDAQ:MORN) was down 7.6% during mid-day trading on Tuesday . The stock traded as low as $184.28 and last traded at $183.2290. Approximately 72,755 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 380,878 shares. The stock had previously closed at $198.29.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MORN shares. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. UBS Group reduced their target price on Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Morningstar in a research report on Monday, December 29th. Finally, BMO Capital Markets set a $250.00 target price on Morningstar in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.00.

Morningstar Trading Down 7.8%

The company has a market cap of $7.52 billion, a P/E ratio of 20.79 and a beta of 1.08. The firm has a 50-day moving average of $213.64 and a 200 day moving average of $231.54. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56.

Morningstar Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 2nd. Morningstar’s payout ratio is currently 22.75%.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $211.03, for a total transaction of $1,529,967.50. Following the completion of the sale, the chairman owned 8,679,397 shares in the company, valued at $1,831,613,148.91. This trade represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Caroline J. Tsay sold 600 shares of the stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $218.48, for a total value of $131,088.00. Following the completion of the transaction, the director directly owned 3,745 shares in the company, valued at $818,207.60. This represents a 13.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 50,182 shares of company stock worth $10,653,159. 36.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Morningstar

A number of institutional investors have recently modified their holdings of MORN. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Morningstar in the fourth quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Morningstar in the 3rd quarter worth approximately $26,000. Osterweis Capital Management Inc. acquired a new position in Morningstar in the second quarter valued at approximately $29,000. V Square Quantitative Management LLC acquired a new position in shares of Morningstar during the fourth quarter worth about $35,000. Finally, True Wealth Design LLC grew its holdings in Morningstar by 120.5% during the fourth quarter. True Wealth Design LLC now owns 172 shares of the business services provider’s stock worth $37,000 after purchasing an additional 94 shares during the period. Institutional investors and hedge funds own 57.02% 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.