Cooper Investors PTY Ltd. Has $9.73 Million Holdings in Morningstar, Inc. $MORN

Key Points

• Cooper Investors PTY Ltd. increased its stake in Morningstar, Inc. by 27.1% during the second quarter, holding a total of 30,985 shares valued at approximately $9.7 million, making it the firm’s 21st largest investment.
• Morningstar recently received a downgrade from a "buy" to a "hold" rating by Wall Street Zen, with a consensus rating of "Moderate Buy" and an average target price of $361.67.
• Shares of Morningstar opened at $233.70 on Friday, with recent trading reflecting a significant decline of 6.1% in value.

Cooper Investors PTY Ltd. increased its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 27.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,985 shares of the business services provider's stock after acquiring an additional 6,598 shares during the quarter. Morningstar makes up approximately 1.8% of Cooper Investors PTY Ltd.'s holdings, making the stock its 21st biggest holding. Cooper Investors PTY Ltd. owned 0.07% of Morningstar worth $9,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Morningstar by 90.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,425 shares of the business services provider's stock worth $1,066,000 after acquiring an additional 1,623 shares during the period. Pallas Capital Advisors LLC bought a new position in Morningstar in the 2nd quarter worth about $210,000. Harbor Capital Advisors Inc. grew its position in Morningstar by 1.3% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 5,939 shares of the business services provider's stock worth $1,864,000 after purchasing an additional 75 shares during the last quarter. Parallel Advisors LLC grew its position in Morningstar by 12.4% in the 2nd quarter. Parallel Advisors LLC now owns 1,327 shares of the business services provider's stock worth $417,000 after purchasing an additional 146 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Morningstar by 46.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 466 shares of the business services provider's stock worth $146,000 after purchasing an additional 148 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total transaction 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 SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 85,500 shares of company stock worth $22,341,957. Corporate insiders own 36.20% of the company's stock.

Morningstar Stock Up 1.7%

Morningstar stock traded up $4.05 during trading hours on Tuesday, hitting $238.16. The company had a trading volume of 120,945 shares, compared to its average volume of 246,259. The firm has a market capitalization of $10.05 billion, a P/E ratio of 25.36 and a beta of 1.01. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The firm's fifty day moving average is $263.74 and its 200-day moving average is $284.62. Morningstar, Inc. has a fifty-two week low of $230.86 and a fifty-two week high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $361.67.

Morningstar Company 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.