New Age Alpha Advisors LLC Buys 8,398 Shares of Morningstar, Inc. $MORN

by · The Cerbat Gem

New Age Alpha Advisors LLC grew its stake in Morningstar, Inc. (NASDAQ:MORN – Free Report) by 148.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,056 shares of the business services provider’s stock after acquiring an additional 8,398 shares during the period. New Age Alpha Advisors LLC’s holdings in Morningstar were worth $3,055,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of MORN. AQR Capital Management LLC raised its stake in shares of Morningstar by 106.9% in the third quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock worth $141,119,000 after acquiring an additional 314,275 shares during the last quarter. Voloridge Investment Management LLC raised its stake in shares of Morningstar by 362.8% in the third quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider’s stock worth $43,416,000 after acquiring an additional 146,693 shares during the last quarter. UBS Group AG raised its stake in shares of Morningstar by 88.4% in the fourth quarter. UBS Group AG now owns 295,347 shares of the business services provider’s stock worth $64,182,000 after acquiring an additional 138,605 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of Morningstar by 78.1% in the third quarter. Two Sigma Investments LP now owns 286,175 shares of the business services provider’s stock worth $66,395,000 after acquiring an additional 125,507 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in shares of Morningstar by 2,899.4% in the third quarter. Focus Partners Wealth now owns 128,855 shares of the business services provider’s stock worth $29,896,000 after acquiring an additional 124,559 shares during the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group set a $280.00 target price on shares of Morningstar in a research note on Friday, February 13th. BMO Capital Markets dropped their target price on shares of Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings cut shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Morningstar presently has an average rating of “Hold” and a consensus price target of $236.50.

View Our Latest Stock Report on MORN

Morningstar Stock Down 1.1%

Shares of NASDAQ:MORN opened at $177.74 on Wednesday. Morningstar, Inc. has a one year low of $149.08 and a one year high of $316.71. The company has a 50 day moving average of $174.85 and a 200-day moving average of $191.44. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 18.10 and a beta of 0.99.

Morningstar (NASDAQ:MORN – Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, topping the consensus estimate of $2.41 by $0.77. Morningstar had a net margin of 16.06% and a return on equity of 33.14%. The company had revenue of $644.80 million during the quarter, compared to analysts’ expectations of $626.91 million.

Insider Activity at Morningstar

In other news, CFO Michael Holt sold 270 shares of Morningstar stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $166.05, for a total transaction of $44,833.50. Following the completion of the sale, the chief financial officer owned 12,326 shares in the company, valued at $2,046,732.30. The trade was a 2.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Joseph D. Mansueto sold 2,270 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $176.72, for a total transaction of $401,154.40. Following the transaction, the chairman owned 8,043,492 shares of the company’s stock, valued at approximately $1,421,445,906.24. This represents a 0.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 74,392 shares of company stock valued at $12,903,874. 38.80% of the stock is owned by corporate insiders.

About Morningstar

(Free Report)

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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