7,586 Shares in Morningstar, Inc. $MORN Bought by Corient Private Wealth LP

Corient Private Wealth LP bought a new stake in Morningstar, Inc. (NASDAQ:MORN) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,586 shares of the business services provider’s stock, valued at approximately $1,184,000.

Several other hedge funds have also made changes to their positions in MORN. Bamco Inc. NY purchased a new position in Morningstar during the 2nd quarter worth $545,937,000. BlackRock Inc. purchased a new stake in Morningstar in the 2nd quarter valued at approximately $324,792,000. Morgan Stanley boosted its holdings in Morningstar by 2.4% in the 4th quarter. Morgan Stanley now owns 2,006,325 shares of the business services provider’s stock valued at $435,995,000 after purchasing an additional 47,360 shares in the last quarter. Wellington Management Group LLP increased its position in Morningstar by 85.4% during the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock worth $246,910,000 after purchasing an additional 523,387 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Morningstar by 48.0% during the 4th quarter. AQR Capital Management LLC now owns 900,297 shares of the business services provider’s stock worth $195,644,000 after buying an additional 292,053 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Performance

Shares of MORN stock opened at $209.40 on Friday. The stock has a fifty day moving average price of $190.31 and a 200 day moving average price of $179.87. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $7.85 billion, a PE ratio of 19.83 and a beta of 1.00. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $261.37.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.27. The company had revenue of $663.20 million for 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 Buying and Selling

In other Morningstar news, Chairman Joseph Mansueto sold 5,659 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $218.84, for a total transaction of $1,238,415.56. Following the completion of the transaction, the chairman directly owned 7,938,192 shares in the company, valued at approximately $1,737,193,937.28. This trade represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 86,500 shares of company stock valued at $17,824,451. 38.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MORN has been the topic of a number of recent analyst reports. Weiss Ratings raised Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. BMO Capital Markets reaffirmed an “outperform” rating and set a $212.00 price target on shares of Morningstar in a research note on Friday, June 26th. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a report on Thursday, June 18th. Wall Street Zen cut shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, 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 report on Tuesday, July 7th. Two 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $227.33.

Morningstar 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.