Wellington Management Group LLP Sells 169,368 Shares of Morningstar, Inc. $MORN

Key Points

• Wellington Management reduced its Morningstar position by 10.2%, selling 169,368 shares and retaining 1.49 million shares worth approximately $232.9 million. Institutional investors collectively own 57.02% of the company.
• Morningstar reported quarterly earnings of $3.10 per share, exceeding the $2.83 consensus estimate, while revenue of $663.2 million also topped expectations.
• Analysts maintain a generally positive view, with Morningstar carrying a “Moderate Buy” consensus rating and an average price target of $227.33; however, insiders sold 86,500 shares worth $17.8 million over the last quarter.

Wellington Management Group LLP lowered its position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 10.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,493,037 shares of the business services provider's stock after selling 169,368 shares during the quarter. Wellington Management Group LLP owned 3.98% of Morningstar worth $232,944,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Osterweis Capital Management Inc. purchased a new stake in Morningstar during the 2nd quarter valued at approximately $29,000. Measured Wealth Private Client Group LLC bought a new stake in Morningstar during the third quarter worth approximately $26,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Morningstar during the 1st quarter valued at approximately $26,000. Grove Bank & Trust purchased a new stake in shares of Morningstar in the second quarter valued at $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $53,000 after purchasing an additional 34 shares during the period. Institutional investors own 57.02% of the company's stock.

Morningstar Stock Performance

NASDAQ:MORN opened at $217.65 on Monday. The company has a market cap of $8.16 billion, a P/E ratio of 20.61 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a twelve month low of $141.49 and a twelve month high of $263.67. The company's 50-day moving average price is $184.22 and its 200-day moving average price is $178.08.

Morningstar (NASDAQ:MORN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, topping analysts' consensus estimates of $2.83 by $0.27. The company had revenue of $663.20 million for the quarter, compared to the consensus estimate of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings upgraded Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. BMO Capital Markets reaffirmed an "outperform" rating and set a $212.00 target price on shares of Morningstar in a research report on Friday, June 26th. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research report on Thursday, June 18th. UBS Group decreased their price target on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Morningstar presently has an average rating of "Moderate Buy" and an average target price of $227.33.

Insider Activity at Morningstar

In other news, Chairman Joseph D. Mansueto sold 7,906 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the completion of the transaction, the chairman directly owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. This represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 86,500 shares of company stock valued at $17,824,451. Corporate insiders own 38.80% of the company's stock.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar's proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.

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