Cwm LLC Buys 3,013 Shares of Morningstar, Inc. $MORN

Key Points

• Cwm LLC increased its stake in Morningstar, Inc. by 241.2% during the second quarter, now holding a total of 4,262 shares worth approximately $1.34 million.
• Morningstar's recent earnings report showed an EPS of $2.40, exceeding expectations, although revenue fell slightly short of consensus estimates.
• Insider trading activity includes Chairman Joseph D. Mansueto selling 7,250 shares valued at over $1.85 million, indicating his ownership has decreased to 9.37 million shares.

Cwm LLC boosted its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 241.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,262 shares of the business services provider's stock after purchasing an additional 3,013 shares during the period. Cwm LLC's holdings in Morningstar were worth $1,338,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in shares of Morningstar by 88.0% during the 1st quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock valued at $162,168,000 after buying an additional 253,137 shares during the period. Nuveen LLC purchased a new stake in Morningstar during the first quarter valued at $38,269,000. Assenagon Asset Management S.A. bought a new position in Morningstar in the second quarter valued at about $33,098,000. Panagora Asset Management Inc. boosted its position in Morningstar by 4,970.8% in the first quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider's stock worth $17,000,000 after purchasing an additional 55,574 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of Morningstar by 688.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider's stock valued at $13,511,000 after purchasing an additional 39,344 shares during the last quarter. Institutional investors own 57.02% of the company's stock.

Morningstar Stock Performance

MORN opened at $218.20 on Tuesday. The company has a 50 day simple moving average of $243.97 and a two-hundred day simple moving average of $275.26. 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 has a market cap of $9.20 billion, a P/E ratio of 23.24 and a beta of 1.00. Morningstar, Inc. has a 1-year low of $210.02 and a 1-year high of $365.00.

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

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction dated 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 completion of the transaction, the chairman owned 9,373,175 shares of the company's stock, valued at $2,404,219,387.50. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 85,500 shares of company stock valued at $22,341,957 in the last quarter. 36.20% of the stock is owned by insiders.

Analysts Set New Price Targets

MORN has been the subject of several recent research reports. Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Morningstar in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $355.00.

Morningstar 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.

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