Morningstar (NASDAQ:MORN) Upgraded to Buy by BidaskClub

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BidaskClub upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a research report released on Saturday morning, BidAskClub reports.

NASDAQ:MORN opened at $152.62 on Friday. Morningstar has a twelve month low of $99.67 and a twelve month high of $157.96. The firm’s 50-day simple moving average is $150.45. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 40.02 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.63 and a current ratio of 1.63.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.98 earnings per share (EPS) for the quarter. The business had revenue of $273.90 million during the quarter. Morningstar had a net margin of 16.52% and a return on equity of 17.36%.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th were paid a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.12 annualized dividend and a dividend yield of 0.73%.

In other Morningstar news, insider Joseph D. Mansueto sold 5,576 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $146.90, for a total transaction of $819,114.40. Following the completion of the sale, the insider now directly owns 21,910,875 shares of the company’s stock, valued at approximately $3,218,707,537.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 10,108 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $134.23, for a total value of $1,356,796.84. Following the sale, the chairman now directly owns 22,084,141 shares of the company’s stock, valued at $2,964,354,246.43. The disclosure for this sale can be found here. In the last 90 days, insiders sold 405,246 shares of company stock worth $58,076,091. 54.10% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in Morningstar by 34.5% during the fourth quarter. Squarepoint Ops LLC now owns 2,526 shares of the business services provider’s stock worth $277,000 after buying an additional 648 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Morningstar by 12.9% in the fourth quarter. Legal & General Group Plc now owns 9,963 shares of the business services provider’s stock valued at $1,095,000 after buying an additional 1,138 shares during the last quarter. Norges Bank bought a new stake in Morningstar during the 4th quarter worth about $31,613,000. Deutsche Bank AG raised its holdings in Morningstar by 13.7% during the 4th quarter. Deutsche Bank AG now owns 30,578 shares of the business services provider’s stock worth $3,356,000 after purchasing an additional 3,684 shares during the last quarter. Finally, Spectrum Asset Management Inc. NB CA bought a new stake in Morningstar during the 1st quarter worth about $227,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

Morningstar Company Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

Further Reading: Quiet Period

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