Precision Wealth Strategies LLC Boosts Holdings in Morningstar, Inc. $MORN

Precision Wealth Strategies LLC boosted its stake in Morningstar, Inc. (NASDAQ:MORN) by 7.1% in the second quarter, Holdings Channel.com reports. The fund owned 2,991 shares of the business services provider’s stock after buying an additional 199 shares during the quarter. Precision Wealth Strategies LLC’s holdings in Morningstar were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Hughes Financial Services LLC acquired a new stake in shares of Morningstar during the first quarter worth about $25,000. MAI Capital Management grew its stake in Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after buying an additional 42 shares during the last quarter. Larson Financial Group LLC increased its position in Morningstar by 5,066.7% during the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock worth $46,000 after buying an additional 152 shares during the period. Blue Trust Inc. lifted its stake in Morningstar by 172.3% in the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider’s stock valued at $53,000 after buying an additional 112 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Morningstar by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Stock Down 2.2%

Morningstar stock opened at $227.02 on Thursday. The stock has a 50 day moving average of $256.55 and a two-hundred day moving average of $282.14. Morningstar, Inc. has a twelve month low of $226.26 and a twelve month high of $365.00. The stock has a market capitalization of $9.58 billion, a price-to-earnings ratio of 24.18 and a beta of 1.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $361.67.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total value of $1,859,625.00. Following the sale, the chairman owned 9,373,175 shares of the company’s stock, valued at $2,404,219,387.50. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is currently owned by corporate insiders.

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.