Algert Global LLC Sells 13,760 Shares of Morningstar, Inc. $MORN

Key Points

• Algert Global reduced its Morningstar stake by 28.1% in the second quarter, selling 13,760 shares and retaining 35,197 shares worth approximately $5.49 million. Institutional investors collectively own 57.02% of the company.
• Morningstar insiders have also been selling shares: Chairman Joseph Mansueto sold 5,659 shares for about $1.24 million, while insiders sold 86,500 shares worth $17.82 million over the past 90 days.
• Analyst sentiment remains positive, with Morningstar carrying a “Moderate Buy” consensus rating and a $227.33 average price target. The company recently beat quarterly earnings and revenue estimates, reporting $3.10 in EPS and $663.2 million in revenue.

Algert Global LLC lowered its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 28.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,197 shares of the business services provider's stock after selling 13,760 shares during the period. Algert Global LLC owned 0.09% of Morningstar worth $5,491,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new position in Morningstar in the 2nd quarter worth about $514,000. Globeflex Capital L P acquired a new stake in shares of Morningstar during the second quarter valued at about $122,000. Quantbot Technologies LP bought a new stake in shares of Morningstar during the second quarter worth about $2,122,000. Westpac Banking Corp bought a new stake in shares of Morningstar during the second quarter worth about $128,000. Finally, Ieq Capital LLC acquired a new position in shares of Morningstar in the second quarter valued at approximately $8,411,000. Institutional investors own 57.02% of the company's stock.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 5,659 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $218.84, for a total transaction of $1,238,415.56. Following the transaction, the chairman directly owned 7,938,192 shares in the company, valued at approximately $1,737,193,937.28. This represents a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 86,500 shares of company stock worth $17,824,451. 38.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MORN. Weiss Ratings raised shares of Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, August 14th. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. BMO Capital Markets reiterated an "outperform" rating and set a $212.00 price target on shares of Morningstar in a report on Friday, June 26th. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research note on Thursday, June 18th. Finally, UBS Group decreased their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Morningstar has a consensus rating of "Moderate Buy" and a consensus target price of $227.33.

Morningstar Stock Up 3.0%

Shares of NASDAQ MORN opened at $218.81 on Friday. The company has a market capitalization of $8.21 billion, a P/E ratio of 20.72 and a beta of 0.99. Morningstar, Inc. has a 52-week low of $141.49 and a 52-week high of $265.31. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The company's 50 day moving average price is $182.94 and its 200-day moving average price is $177.70.

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

Morningstar Company 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.

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