Morningstar, Inc. $MORN Stock Holdings Lifted by Praesidium Investment Management Company LLC

Key Points

• Praesidium Investment Management Company LLC increased its stake in Morningstar, Inc. by 12.7%, now owning 101,472 shares valued at approximately $30.43 million, making Morningstar the firm's 10th largest holding.
• Morningstar reported $2.40 earnings per share for the last quarter, exceeding estimates, while its net revenue was $605.10 million, slightly below expectations.
• Several institutional investors have recently boosted their holdings in Morningstar, contributing to an overall ownership of 57.02% by such entities in the company's stock.

Praesidium Investment Management Company LLC grew its stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 12.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 101,472 shares of the business services provider's stock after buying an additional 11,414 shares during the quarter. Morningstar accounts for approximately 5.7% of Praesidium Investment Management Company LLC's portfolio, making the stock its 10th biggest position. Praesidium Investment Management Company LLC owned approximately 0.24% of Morningstar worth $30,428,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Deutsche Bank AG raised its position in shares of Morningstar by 2.4% during the 4th quarter. Deutsche Bank AG now owns 1,798 shares of the business services provider's stock worth $605,000 after acquiring an additional 42 shares in the last quarter. Ballentine Partners LLC raised its position 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 worth $387,000 after acquiring an additional 42 shares in the last quarter. MAI Capital Management raised its position 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 worth $46,000 after acquiring an additional 42 shares in the last quarter. Compound Planning Inc. raised its position 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 worth $233,000 after acquiring an additional 48 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Morningstar by 10.5% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 57.02% of the company's stock.

Insider Buying and Selling at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar 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 in the company, valued at approximately $2,404,219,387.50. This trade 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 sold 85,500 shares of company stock valued at $22,341,957. Company insiders own 36.20% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MORN. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. BMO Capital Markets raised their target price on Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Two equities research 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, Morningstar has an average rating of "Moderate Buy" and a consensus target price of $361.67.

Morningstar Stock Performance

MORN traded down $0.87 during trading on Friday, hitting $257.24. 249,059 shares of the stock were exchanged, compared to its average volume of 316,556. The firm has a market capitalization of $10.85 billion, a P/E ratio of 27.40 and a beta of 1.01. Morningstar, Inc. has a 1-year low of $250.34 and a 1-year high of $365.00. The stock has a fifty day moving average price of $276.26 and a two-hundred day moving average price of $289.90. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52.

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

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.