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Townsquare Capital LLC Cuts Stock Holdings in Morningstar, Inc. (NASDAQ:MORN)

Morningstar logo with Business Services background

Key Points

  • Townsquare Capital LLC reduced its stake in Morningstar, Inc. by 3.1%, now owning approximately 40,782 shares valued at $12.23 million at the end of the first quarter.
  • Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock for about $2.25 million, which resulted in a slight decrease of 0.08% in his ownership.
  • Morningstar recently declared a quarterly dividend of $0.455 per share, translating to an annual dividend yield of 0.7% and a payout ratio of 19.38%.
  • Want stock alerts on Morningstar? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Townsquare Capital LLC cut its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,782 shares of the business services provider's stock after selling 1,293 shares during the period. Townsquare Capital LLC owned 0.10% of Morningstar worth $12,230,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MORN. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Morningstar by 9.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,802 shares of the business services provider's stock valued at $540,000 after purchasing an additional 159 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Morningstar by 12.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 106,294 shares of the business services provider's stock worth $31,874,000 after purchasing an additional 12,159 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Morningstar by 4.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 305,014 shares of the business services provider's stock worth $102,719,000 after purchasing an additional 13,155 shares during the period. Cetera Investment Advisers raised its holdings in shares of Morningstar by 8.0% in the 4th quarter. Cetera Investment Advisers now owns 2,077 shares of the business services provider's stock worth $699,000 after purchasing an additional 154 shares during the period. Finally, CWM LLC raised its holdings in shares of Morningstar by 9.8% in the 1st quarter. CWM LLC now owns 1,249 shares of the business services provider's stock worth $375,000 after purchasing an additional 111 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Price Performance

Shares of Morningstar stock traded down $1.13 during trading on Friday, hitting $258.92. The stock had a trading volume of 239,084 shares, compared to its average volume of 353,766. The firm has a market cap of $10.92 billion, a price-to-earnings ratio of 27.57 and a beta of 0.96. Morningstar, Inc. has a 12 month low of $250.34 and a 12 month high of $365.00. The business's 50-day moving average is $294.72 and its 200 day moving average is $298.77. The company has a current ratio of 1.13, a quick 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 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.19. The firm had revenue of $605.10 million for the quarter, compared to analysts' expectations of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 11th were given a $0.455 dividend. The ex-dividend date was Friday, July 11th. This represents a $1.82 annualized dividend and a yield of 0.7%. Morningstar's payout ratio is 19.38%.

Insider Transactions at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $309.86, for a total value of $2,246,485.00. Following the completion of the transaction, the chairman directly owned 9,442,731 shares in the company, valued at approximately $2,925,924,627.66. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 50,398 shares of company stock valued at $15,079,996 in the last ninety days. 36.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

MORN has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th.

Get Our Latest Stock Report on MORN

About Morningstar

(Free Report)

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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