Morningstar (NASDAQ:MORN) Sets New 52-Week Low – What’s Next?

Morningstar, Inc. (NASDAQ:MORN)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $221.02 and last traded at $223.63, with a volume of 391987 shares. The stock had previously closed at $226.12.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MORN shares. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $361.67.

Morningstar Stock Performance

The stock has a 50 day moving average price of $253.29 and a two-hundred day moving average price of $280.51. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 23.82 and a beta of 1.00.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.19. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The company had revenue of $605.10 million during the quarter, compared to the consensus estimate of $605.84 million.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 6,705 shares of the firm’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the transaction, the chairman directly owned 9,312,836 shares of the company’s stock, valued at $2,427,390,703.40. This trade represents a 0.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders sold 85,500 shares of company stock valued at $22,341,957. Company insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Morningstar by 13.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,643 shares of the business services provider’s stock worth $553,000 after purchasing an additional 191 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in Morningstar during the first quarter worth $246,000. UMB Bank n.a. boosted its stake in shares of Morningstar by 10.5% in the 1st quarter. UMB Bank n.a. now owns 516 shares of the business services provider’s stock worth $155,000 after buying an additional 49 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Morningstar by 11.3% in the 1st quarter. Park Avenue Securities LLC now owns 1,629 shares of the business services provider’s stock worth $489,000 after buying an additional 165 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Morningstar by 4.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 5,864 shares of the business services provider’s stock worth $1,758,000 after purchasing an additional 238 shares during the period. 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.