Jupiter Topco LLC Makes New Investment in Morningstar, Inc. $MORN

Jupiter Topco LLC purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 91,390 shares of the business services provider’s stock, valued at approximately $14,263,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after purchasing an additional 34 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Morningstar by 3.4% in the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock worth $1,151,000 after purchasing an additional 126 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Morningstar by 278.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock worth $62,000 after buying an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Morningstar by 2,450.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider’s stock worth $176,000 after buying an additional 539 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Morningstar by 58.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider’s stock valued at $43,615,000 after buying an additional 51,449 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research note on Thursday, June 18th. UBS Group cut their price objective on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a research note on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $227.33.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 7,906 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total value of $1,662,315.56. Following the sale, the chairman owned 7,960,570 shares in the company, valued at approximately $1,673,789,448.20. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 86,500 shares of company stock worth $17,824,451 in the last 90 days. 38.80% of the stock is owned by corporate insiders.

Morningstar Price Performance

NASDAQ MORN opened at $217.65 on Friday. Morningstar, Inc. has a one year low of $141.49 and a one year high of $263.67. The stock has a 50-day moving average of $184.22 and a 200 day moving average of $177.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 20.61 and a beta of 0.99.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.27. The business had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

About Morningstar

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.