Townsquare Capital LLC Lowers Holdings in Morningstar, Inc. (NASDAQ:MORN)

Townsquare Capital LLC lowered its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,959 shares of the business services provider’s stock after selling 457 shares during the quarter. Townsquare Capital LLC’s holdings in Morningstar were worth $13,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MORN. Millennium Management LLC grew its stake in Morningstar by 154.0% during the second quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock valued at $94,727,000 after acquiring an additional 194,122 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Morningstar by 9.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,201,708 shares of the business services provider’s stock valued at $383,489,000 after purchasing an additional 102,206 shares in the last quarter. Boston Financial Mangement LLC bought a new stake in shares of Morningstar in the third quarter worth about $19,666,000. FMR LLC lifted its position in shares of Morningstar by 10.9% in the third quarter. FMR LLC now owns 400,520 shares of the business services provider’s stock worth $127,814,000 after buying an additional 39,263 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in Morningstar during the second quarter valued at approximately $9,366,000. Institutional investors own 57.02% of the company’s stock.

Morningstar Stock Performance

MORN stock opened at $354.74 on Wednesday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 46.86 and a beta of 1.18. Morningstar, Inc. has a twelve month low of $269.51 and a twelve month high of $357.06. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $333.90 and its two-hundred day simple moving average is $313.95.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data 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 return on equity of 23.28% and a net margin of 14.69%. The firm had revenue of $569.40 million during the quarter.

Morningstar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were paid a $0.405 dividend. This represents a $1.62 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Analyst Ratings Changes

MORN has been the topic of a number of recent research reports. Redburn Atlantic downgraded shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target on the stock. in a research note on Wednesday, October 9th. UBS Group started coverage on shares of Morningstar in a research note on Tuesday, October 8th. They issued a “buy” rating and a $390.00 target price on the stock. StockNews.com cut shares of Morningstar from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price objective on shares of Morningstar in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

Insider Buying and Selling at Morningstar

In other news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $331.88, for a total value 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. The trade was a 5.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Joseph D. Mansueto sold 3,825 shares of Morningstar stock in a transaction dated 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 completion of the transaction, the chairman now owns 10,791,380 shares in the company, valued at $3,788,313,949. This trade represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,817 shares of company stock valued at $18,453,128. Company insiders own 37.70% of the company’s stock.

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.