Morningstar, Inc. (NASDAQ:MORN) Sees Large Drop in Short Interest

Morningstar, Inc. (NASDAQ:MORN) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 702,700 shares, a decline of 8.5% from the October 15th total of 768,300 shares. Based on an average trading volume of 258,500 shares, the short-interest ratio is presently 2.7 days. Approximately 2.7% of the shares of the company are sold short.

Insider Activity at Morningstar

In related news, Director Gail S. Landis sold 580 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.00, for a total value of $145,000.00. Following the completion of the sale, the director now directly owns 5,147 shares of the company’s stock, valued at $1,286,750. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Morningstar news, Director Gail S. Landis sold 580 shares of Morningstar stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.00, for a total value of $145,000.00. Following the transaction, the director now directly owns 5,147 shares in the company, valued at $1,286,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robin Diamonte sold 400 shares of Morningstar stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $268.91, for a total transaction of $107,564.00. Following the completion of the transaction, the director now owns 8,935 shares in the company, valued at $2,402,710.85. The disclosure for this sale can be found here. Insiders sold a total of 120,246 shares of company stock valued at $29,203,873 over the last ninety days. Insiders own 39.90% of the company’s stock.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Morningstar by 9.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,489 shares of the business services provider’s stock valued at $406,000 after buying an additional 130 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of Morningstar during the first quarter valued at approximately $425,000. MetLife Investment Management LLC purchased a new position in Morningstar during the first quarter valued at approximately $387,000. BlackRock Inc. grew its position in Morningstar by 1.6% in the first quarter. BlackRock Inc. now owns 1,069,710 shares of the business services provider’s stock worth $292,213,000 after acquiring an additional 16,952 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of Morningstar by 4.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,871 shares of the business services provider’s stock worth $540,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

MORN has been the topic of a number of recent analyst reports. Redburn Atlantic upgraded shares of Morningstar from a “neutral” rating to an “overweight” rating and set a $320.00 price target on the stock in a research note on Monday, October 30th. StockNews.com assumed coverage on shares of Morningstar in a research report on Thursday, October 5th. They set a “hold” rating on the stock.

Morningstar Trading Down 0.3 %

Shares of MORN opened at $268.86 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.82. The firm’s 50-day moving average is $244.02 and its two-hundred day moving average is $220.45. Morningstar has a twelve month low of $163.28 and a twelve month high of $270.83. The firm has a market capitalization of $11.48 billion, a P/E ratio of 162.95 and a beta of 1.14.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 25th. The business services provider reported $1.28 earnings per share (EPS) for the quarter. The company had revenue of $515.50 million for the quarter. Morningstar had a net margin of 3.59% and a return on equity of 14.09%.

Morningstar Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, October 5th. Morningstar’s dividend payout ratio is currently 90.91%.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.