Cubist Systematic Strategies LLC Has $13.51 Million Stock Position in Morningstar, Inc. $MORN

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Morningstar, Inc. by 688.9%, acquiring an additional 39,344 shares, bringing total ownership to 45,055 shares valued at approximately $13.5 million.
• Morningstar's quarterly earnings report revealed an earnings per share of $2.40, exceeding analyst expectations of $2.21, although revenue slightly missed projections at $605.10 million.
• Morningstar received mixed analyst ratings, with BMO Capital Markets raising its price target to $355.00 while Wall Street Zen downgraded it from "buy" to "hold," resulting in a consensus rating of "Moderate Buy."

Cubist Systematic Strategies LLC boosted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 688.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,055 shares of the business services provider's stock after acquiring an additional 39,344 shares during the quarter. Cubist Systematic Strategies LLC owned 0.11% of Morningstar worth $13,511,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MORN. Deutsche Bank AG boosted its holdings in shares of Morningstar by 2.4% during the fourth quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock worth $605,000 after purchasing an additional 42 shares during the period. Ballentine Partners LLC boosted its stake in shares of Morningstar by 3.4% during the 1st quarter. Ballentine Partners LLC now owns 1,290 shares of the business services provider's stock valued at $387,000 after buying an additional 42 shares during the period. MAI Capital Management boosted its stake in shares of Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider's stock valued at $46,000 after buying an additional 42 shares during the period. Compound Planning Inc. grew its holdings in shares of Morningstar by 6.6% during the 1st quarter. Compound Planning Inc. now owns 777 shares of the business services provider's stock valued at $233,000 after acquiring an additional 48 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in shares of Morningstar by 10.5% in the first quarter. UMB Bank n.a. now owns 516 shares of the business services provider's stock worth $155,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MORN shares. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. BMO Capital Markets lifted their price target on Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $361.67.

Morningstar Stock Performance

Shares of MORN stock traded up $2.24 during trading on Thursday, reaching $258.11. The company had a trading volume of 319,412 shares, compared to its average volume of 231,658. The firm's 50 day simple moving average is $277.37 and its two-hundred day simple moving average is $290.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. Morningstar, Inc. has a one year low of $250.34 and a one year high of $365.00. The company has a market capitalization of $10.89 billion, a PE ratio of 27.49 and a beta of 1.01.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.21 by $0.19. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The business had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total value of $1,859,625.00. Following the transaction, the chairman directly owned 9,373,175 shares of the company's stock, valued at approximately $2,404,219,387.50. This trade represents a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is currently owned by company insiders.

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.