OP Asset Management Ltd Invests $2.05 Million in Morningstar, Inc. $MORN

OP Asset Management Ltd acquired a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 12,147 shares of the business services provider’s stock, valued at approximately $2,053,000.

A number of other institutional investors have also recently made changes to their positions in the business. Osterweis Capital Management Inc. acquired a new position in Morningstar during the 2nd quarter valued at about $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Morningstar during the third quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Morningstar during the fourth quarter worth about $25,000. V Square Quantitative Management LLC acquired a new position in shares of Morningstar during the fourth quarter valued at about $35,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Morningstar by 54.2% during the third quarter. Clearstead Advisors LLC now owns 165 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MORN shares. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research note on Thursday, June 18th. Weiss Ratings lowered shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. BMO Capital Markets reissued an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a research report on Friday. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Morningstar currently has an average rating of “Hold” and a consensus price target of $234.00.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $166.23, for a total transaction of $1,205,167.50. Following the completion of the transaction, the chairman directly owned 8,114,492 shares in the company, valued at $1,348,872,005.16. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 64,720 shares of company stock worth $11,169,471 over the last three months. Company insiders own 38.80% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $154.73 on Monday. Morningstar, Inc. has a twelve month low of $141.49 and a twelve month high of $316.71. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The company has a market cap of $5.88 billion, a PE ratio of 15.76 and a beta of 1.00. The company’s 50 day moving average is $174.48 and its 200 day moving average is $184.63.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.41 by $0.77. The business had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

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.