R Squared Ltd Boosts Stock Holdings in Morningstar, Inc. $MORN

Key Points

• R Squared Ltd increased its stake in Morningstar, Inc. by 59.5% in Q2, holding 3,573 shares worth approximately $1,122,000.
• Morningstar reported an EPS of $2.40 for its latest quarter, exceeding analysts' expectations of $2.21, despite revenue slightly below estimates at $605.10 million.
• Recent insider selling included the chairman offloading 7,250 shares at an average price of $256.50, reducing his stake by 0.08% while total insider ownership stands at 36.20%.

R Squared Ltd increased its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 59.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,573 shares of the business services provider's stock after acquiring an additional 1,333 shares during the period. R Squared Ltd's holdings in Morningstar were worth $1,122,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Ethic Inc. raised its stake in shares of Morningstar by 10.4% in the second quarter. Ethic Inc. now owns 2,738 shares of the business services provider's stock worth $857,000 after purchasing an additional 257 shares during the last quarter. Wallace Advisory Group LLC raised its position in Morningstar by 5.2% in the 2nd quarter. Wallace Advisory Group LLC now owns 1,136 shares of the business services provider's stock worth $341,000 after buying an additional 56 shares during the last quarter. Aurora Investment Counsel bought a new position in Morningstar during the 2nd quarter valued at about $970,000. Chicago Partners Investment Group LLC bought a new position in Morningstar during the 2nd quarter valued at about $246,000. Finally, Aspiriant LLC bought a new stake in shares of Morningstar in the second quarter worth approximately $216,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Trading Down 0.9%

Shares of Morningstar stock opened at $218.09 on Friday. Morningstar, Inc. has a 1-year low of $210.02 and a 1-year high of $365.00. The company's fifty day simple moving average is $241.60 and its 200-day simple moving average is $274.24. 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 stock has a market capitalization of $9.20 billion, a PE ratio of 23.23 and a beta of 1.00.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data 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. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.The firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million.

Insider Buying and Selling at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the business'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 transaction of $1,859,625.00. Following the completion of the transaction, the chairman directly owned 9,373,175 shares in the company, valued at approximately $2,404,219,387.50. The trade was a 0.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 85,500 shares of company stock worth $22,341,957. 36.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MORN shares. Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Morningstar in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.00.

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.

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