Corient Private Wealth LP Makes New $1.18 Million Investment in Morningstar, Inc. $MORN

Corient Private Wealth LP bought a new position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,586 shares of the business services provider's stock, valued at approximately $1,184,000.

Other large investors have also made changes to their positions in the company. Bamco Inc. NY acquired a new position in Morningstar during the second quarter worth $545,937,000. Bank of America Corp DE acquired a new stake in shares of Morningstar in the 2nd quarter worth $30,051,000. American Capital Management Inc. purchased a new position in shares of Morningstar during the 2nd quarter worth $17,934,000. Caisse de depot et placement du Quebec purchased a new position in shares of Morningstar during the 2nd quarter worth $1,342,000. Finally, Jupiter Topco LLC acquired a new position in shares of Morningstar during the 2nd quarter valued at about $14,263,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Trading Down 2.9%

MORN opened at $209.40 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. Morningstar, Inc. has a one year low of $141.49 and a one year high of $261.37. The business's 50-day simple moving average is $190.31 and its 200-day simple moving average is $179.87. The company has a market cap of $7.85 billion, a P/E ratio of 19.83 and a beta of 1.00.

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

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph Mansueto sold 7,906 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 86,500 shares of company stock valued at $17,824,451 in the last three months. Corporate insiders own 38.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MORN shares. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a research note on Thursday, June 18th. Weiss Ratings raised shares of Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. UBS Group decreased their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets reiterated an "outperform" rating and issued a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. Finally, Wall Street Zen downgraded Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, August 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.33.

Morningstar 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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