VIRGINIA RETIREMENT SYSTEMS ET Al Buys New Position in Morningstar, Inc. $MORN

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,400 shares of the business services provider’s stock, valued at approximately $1,467,000.

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

Analyst Ratings Changes

Several research analysts have weighed in on MORN shares. BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a report on Friday, June 26th. UBS Group lowered their price objective on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research note on Thursday, June 18th. Weiss Ratings upgraded Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen lowered Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $227.33.

Morningstar Stock Performance

Shares of MORN stock opened at $191.02 on Friday. Morningstar, Inc. has a one year low of $141.49 and a one year high of $261.37. 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 50 day moving average price of $194.04 and a 200 day moving average price of $181.19. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of 18.09 and a beta of 1.00.

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

Insider Buying and Selling at Morningstar

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

About Morningstar

Morningstar, Inc is a global provider of independent investment research, data, and financial information. The company serves individual investors, financial advisors, asset managers, institutions, and retirement plan providers with tools designed to support investment analysis, portfolio construction, and financial decision-making.

Its offerings include investment research and ratings, market and portfolio data, indexes, software platforms, and retirement planning solutions. Key products include Morningstar Direct for institutional research and analysis and Advisor Workstation for financial professionals.