Bamco Inc. NY Acquires Shares of 3,499,146 Morningstar, Inc. $MORN

Bamco Inc. NY bought a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,499,146 shares of the business services provider's stock, valued at approximately $545,937,000. Morningstar comprises about 0.8% of Bamco Inc. NY's investment portfolio, making the stock its 23rd biggest holding. Bamco Inc. NY owned about 9.33% of Morningstar at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in shares of Morningstar in the 2nd quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Morningstar during the 1st quarter valued at about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Morningstar during the 3rd quarter valued at about $26,000. Osterweis Capital Management Inc. bought a new position in shares of Morningstar in the 2nd quarter valued at about $29,000. Finally, Quarry LP lifted its holdings in shares of Morningstar by 51.2% in the 4th quarter. Quarry LP now owns 189 shares of the business services provider's stock valued at $41,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MORN. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. UBS Group cut their target price on Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. BMO Capital Markets restated 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 target on Morningstar in a research report on Thursday, June 18th. Finally, Weiss Ratings raised shares of Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, Morningstar currently has a consensus rating of "Moderate Buy" and an average target price of $227.33.

Morningstar Stock Down 1.2%

Shares of NASDAQ MORN opened at $212.44 on Thursday. 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 firm has a market capitalization of $7.97 billion, a price-to-earnings ratio of 20.12 and a beta of 0.99. The stock has a 50 day moving average price of $181.64 and a 200 day moving average price of $177.33. Morningstar, Inc. has a 52-week low of $141.49 and a 52-week high of $265.73.

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

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,906 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the transaction, the chairman owned 7,960,570 shares of the company's stock, valued at approximately $1,673,789,448.20. This trade represents a 0.10% decrease in their position. 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. In the last quarter, insiders have sold 86,500 shares of company stock worth $17,824,451. 38.80% of the stock is owned by corporate insiders.

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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