Callan Family Office LLC Makes New $846,000 Investment in Morningstar, Inc. $MORN

Key Points

• Callan Family Office LLC purchased 5,421 Morningstar shares worth approximately $846,000 in the second quarter. Institutional investors now own 57.02% of the company.
• Morningstar exceeded quarterly expectations, reporting $3.10 in EPS versus the $2.83 consensus and revenue of $663.2 million, above the $649.72 million estimate.
• Morningstar shares opened at $217.50, while analysts maintain a “Moderate Buy” consensus with an average price target of $227.33. Chairman Joseph Mansueto sold shares under a pre-arranged trading plan, but continues to own nearly 7.94 million shares.

Callan Family Office LLC purchased a new position in Morningstar, Inc. (NASDAQ:MORN - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,421 shares of the business services provider's stock, valued at approximately $846,000.

A number of other large investors have also modified their holdings of the stock. Grove Bank & Trust acquired a new stake in shares of Morningstar in the second quarter valued at $25,000. Cassaday & Co Wealth Management LLC acquired a new position in Morningstar during the 1st quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Morningstar during the 3rd quarter worth about $26,000. Osterweis Capital Management Inc. purchased a new stake in Morningstar during the 2nd quarter worth about $29,000. Finally, Quarry LP raised its position in 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 purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.

Insiders Place Their Bets

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 shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the transaction, the chairman directly owned 7,938,192 shares in the company, valued at $1,737,193,937.28. This represents a 0.07% decrease in their ownership of the stock. The sale 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 sold a total of 87,200 shares of company stock worth $17,949,751 in the last three months. 38.80% of the stock is owned by insiders.

Morningstar Stock Up 0.7%

Shares of NASDAQ MORN opened at $217.50 on Tuesday. The business has a 50-day moving average of $179.83 and a two-hundred day moving average of $176.78. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.60 and a beta of 0.99. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $265.73. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06.

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, beating analysts' consensus estimates of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The business had revenue of $663.20 million for the quarter, compared to the consensus estimate of $649.72 million.

Analysts Set New Price Targets

MORN has been the subject of several recent research reports. Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. Weiss Ratings upgraded shares of Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a report on Thursday, June 18th. BMO Capital Markets reiterated an "outperform" rating and issued a $212.00 price target on shares of Morningstar in a research note on Friday, June 26th. Finally, UBS Group lowered their price target on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $227.33.

About Morningstar

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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