111 Capital Grows Holdings in Morningstar, Inc. $MORN

Key Points

• 111 Capital increased its holdings in Morningstar, Inc. by 110.7% during the second quarter, owning 2,440 shares valued at approximately $766,000.
• Several institutional investors, including Royal Bank of Canada and Envestnet Asset Management, have also significantly increased their stakes in Morningstar during the first quarter.
• Morningstar's stock has been downgraded from a "buy" to a "hold" by Wall Street analysts, resulting in a current consensus rating of "Moderate Buy" with an average price target of $361.67.

111 Capital lifted its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 110.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,440 shares of the business services provider's stock after buying an additional 1,282 shares during the quarter. 111 Capital's holdings in Morningstar were worth $766,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Morningstar by 9.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock worth $540,000 after buying an additional 159 shares during the period. Royal Bank of Canada grew its position in shares of Morningstar by 106.8% in the 1st quarter. Royal Bank of Canada now owns 37,089 shares of the business services provider's stock worth $11,121,000 after buying an additional 19,155 shares during the period. Envestnet Asset Management Inc. grew its position in shares of Morningstar by 12.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock worth $31,874,000 after buying an additional 12,159 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Morningstar in the 1st quarter worth about $649,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Morningstar by 11.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,257 shares of the business services provider's stock worth $32,763,000 after buying an additional 10,920 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the stock in a transaction that occurred on 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 transaction, the chairman owned 9,373,175 shares in the company, valued at $2,404,219,387.50. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Morningstar in a research report on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Morningstar currently has a consensus rating of "Moderate Buy" and an average target price of $361.67.

Morningstar Price Performance

Shares of NASDAQ:MORN opened at $226.12 on Friday. The firm's 50 day moving average price is $254.47 and its 200-day moving average price is $281.13. Morningstar, Inc. has a twelve month low of $222.71 and a twelve month high of $365.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $9.54 billion, a PE ratio of 24.08 and a beta of 1.00.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.19. Morningstar had a net margin of 17.22% and a return on equity of 23.54%. The firm had revenue of $605.10 million for the quarter, compared to analysts' expectations of $605.84 million.

Morningstar 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.

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