Morningstar, Inc. (NASDAQ:MORN) Short Interest Up 26.1% in May

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 550,200 shares, an increase of 26.1% from the April 30th total of 436,300 shares. Based on an average daily volume of 208,400 shares, the short-interest ratio is currently 2.6 days. Approximately 2.2% of the company's shares are sold short.

Morningstar Stock Up 0.6%

Shares of MORN stock traded up $1.89 on Wednesday, hitting $310.12. The stock had a trading volume of 170,342 shares, compared to its average volume of 143,881. The stock's 50 day moving average is $290.96 and its 200-day moving average is $314.42. The firm has a market capitalization of $13.10 billion, a price-to-earnings ratio of 40.97 and a beta of 0.99. Morningstar has a 52-week low of $250.34 and a 52-week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.13. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The company had revenue of $581.90 million during the quarter, compared to the consensus estimate of $589.07 million.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Friday, April 4th were issued a dividend of $0.455 per share. The ex-dividend date was Friday, April 4th. This is an increase from Morningstar's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 0.59%. Morningstar's payout ratio is currently 20.45%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets lifted their target price on shares of Morningstar from $339.00 to $355.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 1,246 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total value of $381,923.92. Following the transaction, the chairman now directly owns 9,427,836 shares of the company's stock, valued at approximately $2,889,820,290.72. This trade represents a 0.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Caroline J. Tsay sold 200 shares of the company's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $309.84, for a total value of $61,968.00. Following the sale, the director now owns 4,345 shares of the company's stock, valued at $1,346,254.80. This represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,633 shares of company stock valued at $18,891,798 over the last quarter. Company insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Morningstar

A number of institutional investors have recently made changes to their positions in the business. Norges Bank bought a new position in Morningstar during the 4th quarter valued at $111,694,000. Millennium Management LLC lifted its position in shares of Morningstar by 88.0% during the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider's stock worth $162,168,000 after purchasing an additional 253,137 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Morningstar in the fourth quarter worth about $56,584,000. Premier Fund Managers Ltd bought a new stake in Morningstar in the fourth quarter valued at about $50,694,000. Finally, GAMMA Investing LLC raised its stake in Morningstar by 30,785.9% during the first quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider's stock valued at $43,252,000 after buying an additional 143,770 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

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.