Tudor Investment Corp ET AL Sells 15,598 Shares of Morningstar, Inc. $MORN

Tudor Investment Corp ET AL cut its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 63.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,029 shares of the business services provider’s stock after selling 15,598 shares during the period. Tudor Investment Corp ET AL’s holdings in Morningstar were worth $2,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Planning increased its position in Morningstar by 75.3% during the second quarter. Creative Planning now owns 4,506 shares of the business services provider’s stock valued at $1,415,000 after acquiring an additional 1,936 shares during the last quarter. Principal Financial Group Inc. boosted its position in Morningstar by 32.0% in the third quarter. Principal Financial Group Inc. now owns 91,155 shares of the business services provider’s stock worth $21,149,000 after purchasing an additional 22,109 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Morningstar by 17.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 236,324 shares of the business services provider’s stock valued at $74,191,000 after purchasing an additional 35,561 shares during the period. Chicago Capital LLC increased its position in shares of Morningstar by 24.2% during the 3rd quarter. Chicago Capital LLC now owns 70,042 shares of the business services provider’s stock valued at $16,251,000 after purchasing an additional 13,627 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Morningstar during the 3rd quarter valued at about $1,713,000. 57.02% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Michael Holt acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was purchased at an average price of $186.59 per share, for a total transaction of $186,590.00. Following the completion of the transaction, the chief financial officer directly owned 9,480 shares in the company, valued at approximately $1,768,873.20. This trade represents a 11.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Joseph D. Mansueto sold 3,122 shares of Morningstar stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $182.32, for a total value of $569,203.04. Following the completion of the sale, the chairman directly owned 8,138,232 shares in the company, valued at $1,483,762,458.24. This trade represents a 0.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 85,243 shares of company stock worth $14,219,154. 36.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MORN. UBS Group set a $280.00 price objective on shares of Morningstar in a report on Friday, February 13th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. BMO Capital Markets dropped their price target on shares of Morningstar from $257.00 to $193.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 17th. Finally, Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $236.50.

Morningstar Trading Down 2.4%

MORN stock opened at $156.81 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.99 and a quick ratio of 0.99. Morningstar, Inc. has a 1-year low of $149.08 and a 1-year high of $316.71. The business has a 50 day simple moving average of $180.11 and a two-hundred day simple moving average of $206.30. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 17.60 and a beta of 1.10.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Thursday, February 12th. The business services provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.37. Morningstar had a net margin of 15.30% and a return on equity of 27.94%. The firm had revenue of $641.10 million for the quarter, compared to analysts’ expectations of $634.43 million.

Morningstar Company Profile

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.