Assenagon Asset Management S.A. Takes $33.10 Million Position in Morningstar, Inc. $MORN

Key Points

• Assenagon Asset Management S.A. invested approximately $33.10 million in Morningstar, Inc. by purchasing 105,430 shares during the second quarter.
• Morningstar reported EPS of $2.40 for the last quarter, surpassing analysts' estimates of $2.21, while revenue came in slightly below expectations at $605.10 million.
• Insider activity showed that Chairman Joseph D. Mansueto sold 7,250 shares valued at around $1.86 million, decreasing his overall ownership by 0.08%.

Assenagon Asset Management S.A. bought a new stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 105,430 shares of the business services provider's stock, valued at approximately $33,098,000. Assenagon Asset Management S.A. owned approximately 0.25% of Morningstar at the end of the most recent quarter.

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

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,705 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the sale, the chairman directly owned 9,312,836 shares in the company, valued at approximately $2,427,390,703.40. The trade was a 0.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is currently owned by insiders.

Morningstar Stock Performance

Shares of MORN stock traded down $1.05 on Monday, hitting $234.11. The company had a trading volume of 585,316 shares, compared to its average volume of 389,174. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a twelve month low of $230.86 and a twelve month high of $365.00. The company has a 50-day moving average price of $263.74 and a 200-day moving average price of $284.62. The firm has a market cap of $9.87 billion, a P/E ratio of 24.93 and a beta of 1.01.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, beating 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 firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Morningstar currently has an average rating of "Moderate Buy" and an average price target of $361.67.

About Morningstar

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.