Morningstar (NASDAQ:MORN) Sets New 12-Month Low - Here's What Happened

Key Points

• Morningstar, Inc. shares hit a new 52-week low of $221.02 amid trading, with a closing price of $223.63.
• Wall Street analysts show mixed sentiments, with two holding a "Buy" rating and two a "Hold" rating, while the stock has an average price target of $361.67.
• Insider trading activity revealed that Chairman Joseph D. Mansueto sold over 6,700 shares of the company for approximately $1.75 million in late August.

Shares of Morningstar, Inc. (NASDAQ:MORN - Get Free Report) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $221.02 and last traded at $223.63, with a volume of 391987 shares. The stock had previously closed at $226.12.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MORN. Weiss Ratings reiterated a "hold (c)" rating on shares of Morningstar in a report on Saturday, September 27th. Wall Street Zen lowered Morningstar from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $361.67.

Morningstar Stock Performance

The stock has a fifty day moving average price of $253.29 and a 200 day moving average price of $280.51. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The firm has a market cap of $9.43 billion, a price-to-earnings ratio of 23.82 and a beta of 1.00.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating 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 company had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 6,705 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the transaction, the chairman owned 9,312,836 shares of the company's stock, valued at approximately $2,427,390,703.40. The trade was a 0.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 85,500 shares of company stock valued at $22,341,957 over the last 90 days. Company insiders own 36.20% of the company's stock.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Morningstar by 13.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,643 shares of the business services provider's stock worth $553,000 after purchasing an additional 191 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new position in Morningstar in the 1st quarter valued at approximately $246,000. UMB Bank n.a. lifted its position in shares of Morningstar by 10.5% in the 1st quarter. UMB Bank n.a. now owns 516 shares of the business services provider's stock worth $155,000 after acquiring an additional 49 shares during the period. Park Avenue Securities LLC grew its holdings in shares of Morningstar by 11.3% during the 1st quarter. Park Avenue Securities LLC now owns 1,629 shares of the business services provider's stock worth $489,000 after purchasing an additional 165 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Morningstar by 4.2% during the first quarter. Harbor Capital Advisors Inc. now owns 5,864 shares of the business services provider's stock valued at $1,758,000 after purchasing an additional 238 shares during the period. Institutional investors own 57.02% of the company's stock.

Morningstar Company Profile

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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