Morningstar, Inc. (NASDAQ:MORN) Sees Significant Decline in Short Interest

Morningstar, Inc. (NASDAQ:MORN) was the recipient of a large decrease in short interest in October. As of October 31st, there was short interest totalling 118,400 shares, a decrease of 19.5% from the October 15th total of 147,000 shares. Based on an average daily volume of 108,900 shares, the short-interest ratio is currently 1.1 days. Approximately 0.4% of the company’s stock are sold short.

Morningstar Stock Performance

Shares of MORN traded down $5.42 during mid-day trading on Friday, reaching $337.57. The company’s stock had a trading volume of 128,763 shares, compared to its average volume of 118,571. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar has a 1-year low of $264.79 and a 1-year high of $352.55. The business has a 50-day simple moving average of $329.41 and a two-hundred day simple moving average of $311.32. The stock has a market cap of $14.48 billion, a P/E ratio of 44.59 and a beta of 1.18.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $2.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.01). Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $569.40 million for the quarter.

Morningstar Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Friday, October 4th. Morningstar’s payout ratio is 21.40%.

Insiders Place Their Bets

In other news, Chairman Joseph D. Mansueto sold 3,825 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $351.05, for a total value of $1,342,766.25. Following the sale, the chairman now owns 10,791,380 shares of the company’s stock, valued at $3,788,313,949. The trade was a 0.04 % 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. Also, Director William M. Lyons sold 750 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $331.88, for a total transaction of $248,910.00. Following the completion of the transaction, the director now directly owns 12,840 shares of the company’s stock, valued at approximately $4,261,339.20. This trade represents a 5.52 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,195 shares of company stock worth $23,252,260. Corporate insiders own 39.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in Morningstar in the 3rd quarter valued at $30,000. Blue Trust Inc. grew its stake in shares of Morningstar by 326.9% in the second quarter. Blue Trust Inc. now owns 111 shares of the business services provider’s stock valued at $34,000 after acquiring an additional 85 shares in the last quarter. Crewe Advisors LLC bought a new position in Morningstar during the second quarter worth about $35,000. DT Investment Partners LLC acquired a new stake in Morningstar in the 2nd quarter worth about $36,000. Finally, Venturi Wealth Management LLC boosted its holdings in Morningstar by 101.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 121 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 61 shares during the period. 57.02% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group started coverage on Morningstar in a research report on Tuesday, October 8th. They set a “buy” rating and a $390.00 price target for the company. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a report on Friday. BMO Capital Markets restated an “outperform” rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. Finally, Redburn Atlantic cut shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a research note on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

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.