Voleon Capital Management LP Reduces Stock Position in Morningstar, Inc. $MORN

Key Points

• Voleon Capital Management LP decreased its holdings in Morningstar, Inc. by 4.5%, selling 985 shares and owning 20,930 shares valued at $6,276,000 as of the latest SEC filing.
• Several institutional investors, including Millennium Management LLC and GAMMA Investing LLC, have significantly increased their positions in Morningstar during the first quarter, indicating strong investment interest.
• Morningstar recently reported an EPS of $2.40 for the last quarter, exceeding analysts’ expectations, but had a slight miss on revenue expectations.

Voleon Capital Management LP cut its holdings in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 4.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,930 shares of the business services provider's stock after selling 985 shares during the period. Voleon Capital Management LP's holdings in Morningstar were worth $6,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MORN. Hughes Financial Services LLC bought a new position in Morningstar in the 1st quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock valued at $46,000 after purchasing an additional 152 shares during the period. MAI Capital Management boosted its holdings in Morningstar by 37.8% in the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider's stock valued at $46,000 after purchasing an additional 42 shares during the period. Blue Trust Inc. boosted its holdings in Morningstar by 172.3% in the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock valued at $53,000 after purchasing an additional 112 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock valued at $53,000 after purchasing an additional 34 shares during the period. 57.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $361.67.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total value of $1,859,625.00. Following the transaction, the chairman owned 9,373,175 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is owned by company insiders.

Morningstar Price Performance

Shares of NASDAQ MORN traded up $0.17 during mid-day trading on Friday, reaching $257.14. 833,099 shares of the company were exchanged, compared to its average volume of 235,671. Morningstar, Inc. has a 52 week low of $249.56 and a 52 week high of $365.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $10.85 billion, a PE ratio of 27.38 and a beta of 1.01. The company's 50 day moving average price is $271.78 and its 200 day moving average price is $288.00.

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

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.