Morningstar (NASDAQ:MORN) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Morningstar (NASDAQ:MORN) from a hold rating to a buy rating in a research note issued to investors on Tuesday, BidAskClub reports.

NASDAQ:MORN traded up $1.43 during trading hours on Tuesday, reaching $157.75. 68 shares of the stock were exchanged, compared to its average volume of 74,593. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $145.88. The firm has a market cap of $6.59 billion, a PE ratio of 40.02 and a beta of 0.83. Morningstar has a 52 week low of $99.67 and a 52 week high of $156.94.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.77 earnings per share for the quarter. The business had revenue of $258.90 million for the quarter. Morningstar had a return on equity of 17.95% and a net margin of 16.84%.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, July 5th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Wednesday, July 3rd.

In related news, insider Joseph D. Mansueto sold 13,329 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $141.70, for a total value of $1,888,719.30. Following the sale, the insider now directly owns 22,137,176 shares in the company, valued at approximately $3,136,837,839.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joseph D. Mansueto sold 27,316 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $140.85, for a total value of $3,847,458.60. Following the completion of the sale, the insider now owns 21,981,540 shares in the company, valued at $3,096,099,909. The disclosure for this sale can be found here. Insiders have sold a total of 371,577 shares of company stock worth $52,765,653 over the last quarter. Insiders own 54.10% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Comerica Bank acquired a new stake in Morningstar in the 1st quarter valued at approximately $210,000. Connable Office Inc. acquired a new position in shares of Morningstar during the 1st quarter valued at $212,000. Hollencrest Capital Management acquired a new position in shares of Morningstar during the 2nd quarter valued at $214,000. Spectrum Asset Management Inc. NB CA acquired a new position in shares of Morningstar during the 1st quarter valued at $227,000. Finally, Advisor Group Inc. increased its position in shares of Morningstar by 9.3% during the 4th quarter. Advisor Group Inc. now owns 2,119 shares of the business services provider’s stock valued at $233,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 42.71% of the company’s stock.

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: Cost of Debt

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