Morningstar (NASDAQ:MORN) Sets New 52-Week Low - Here's What Happened

Key Points

• Morningstar, Inc. shares reached a new 52-week low of $244.44 during trading, closing at $246.61 with a volume of 392,095 shares exchanged.
• Wall Street Zen downgraded the stock from a "buy" to a "hold" rating, while the average price target remains at $361.67.
• Insider trading activity included Chairman Joseph D. Mansueto selling 6,705 shares for approximately $1.75 million, representing a decrease in his holdings.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The company traded as low as $244.44 and last traded at $246.61, with a volume of 392095 shares changing hands. The stock had previously closed at $257.14.

Analysts Set New Price Targets

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

Morningstar Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $10.40 billion, a PE ratio of 26.26 and a beta of 1.01. The company's 50 day simple moving average is $269.54 and its 200 day simple moving average is $286.68.

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, beating the consensus estimate of $2.21 by $0.19. The firm had revenue of $605.10 million during the quarter, compared to analyst estimates of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 6,705 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the completion of the sale, the chairman owned 9,312,836 shares in the company, valued at $2,427,390,703.40. This trade represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 85,500 shares of company stock worth $22,341,957. Company insiders own 36.20% of the company's stock.

Institutional Investors Weigh In On Morningstar

Large investors have recently modified their holdings of the stock. Hughes Financial Services LLC purchased a new stake in shares of Morningstar during the 1st quarter worth approximately $25,000. Osterweis Capital Management Inc. bought a new position in Morningstar in the 2nd quarter worth approximately $29,000. IFP Advisors Inc boosted its holdings in Morningstar by 270.3% in the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider's stock worth $43,000 after buying an additional 100 shares during the period. 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 worth $46,000 after buying an additional 152 shares during the period. Finally, 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 worth $46,000 after buying an additional 42 shares during the period. Hedge funds and other 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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