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

Morningstar, Inc. (NASDAQ:MORN) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 697,600 shares, a growth of 24.4% from the February 28th total of 560,900 shares. Approximately 2.8% of the shares of the company are sold short. Based on an average daily volume of 152,000 shares, the short-interest ratio is currently 4.6 days.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total value of $2,557,749.50. Following the completion of the transaction, the chairman now owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold 59,544 shares of company stock valued at $18,770,097 over the last ninety days. Corporate insiders own 39.90% of the company’s stock.

Institutional Trading of Morningstar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its stake in Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Morningstar during the fourth quarter worth about $28,000. R Squared Ltd acquired a new position in shares of Morningstar in the fourth quarter valued at approximately $40,000. V Square Quantitative Management LLC lifted its stake in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock valued at $47,000 after buying an additional 46 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in Morningstar during the third quarter worth approximately $58,000. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Morningstar Stock Performance

NASDAQ:MORN opened at $301.88 on Thursday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $12.93 billion, a P/E ratio of 39.88 and a beta of 1.23. The firm has a 50-day moving average price of $311.65 and a two-hundred day moving average price of $327.70. Morningstar has a twelve month low of $278.64 and a twelve month high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Morningstar Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Friday, April 4th will be issued a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Morningstar’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, April 4th. Morningstar’s payout ratio is 21.24%.

Analyst Ratings Changes

MORN has been the topic of several recent analyst reports. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets dropped their price objective on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.

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.