Sanctuary Advisors LLC Makes New Investment in Morningstar, Inc. $MORN

Sanctuary Advisors LLC bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the second quarter, Holdings Channel reports. The fund bought 3,295 shares of the business services provider’s stock, valued at approximately $514,000.

A number of other large investors have also made changes to their positions in the company. Grove Bank & Trust acquired a new stake in Morningstar during the 2nd quarter valued at $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Morningstar in the 1st quarter valued at approximately $26,000. Measured Wealth Private Client Group LLC bought a new stake in Morningstar in the third quarter worth approximately $26,000. Osterweis Capital Management Inc. bought a new stake in Morningstar in the second quarter worth $29,000. Finally, Quarry LP increased its holdings in shares of Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 64 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Down 0.5%

Shares of Morningstar stock opened at $217.65 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a market cap of $8.16 billion, a PE ratio of 20.61 and a beta of 0.99. The business has a fifty day simple moving average of $184.22 and a 200 day simple moving average of $177.98. Morningstar, Inc. has a 12 month low of $141.49 and a 12 month high of $263.67.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. The business had revenue of $663.20 million for the quarter, compared to the consensus estimate of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

Analyst Ratings Changes

Several research analysts recently commented on MORN shares. Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Wall Street Zen downgraded shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday. UBS Group lowered their price objective on Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. Finally, Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research note on Thursday, June 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $227.33.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,906 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total value of $1,662,315.56. Following the completion of the transaction, the chairman directly owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 86,500 shares of company stock worth $17,824,451. Insiders own 38.80% of the company’s stock.

About Morningstar

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.