Pallas Capital Advisors LLC Invests $210,000 in Morningstar, Inc. $MORN

Pallas Capital Advisors LLC purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 669 shares of the business services provider’s stock, valued at approximately $210,000.

A number of other institutional investors have also recently modified their holdings of MORN. Millennium Management LLC raised its stake in Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock valued at $162,168,000 after purchasing an additional 253,137 shares in the last quarter. GAMMA Investing LLC increased its holdings in Morningstar by 30,785.9% in the 1st quarter. GAMMA Investing LLC now owns 144,237 shares of the business services provider’s stock valued at $43,252,000 after buying an additional 143,770 shares during the period. Nuveen LLC bought a new position in Morningstar in the 1st quarter valued at about $38,269,000. Panagora Asset Management Inc. boosted its position in shares of Morningstar by 4,970.8% during the 1st quarter. Panagora Asset Management Inc. now owns 56,692 shares of the business services provider’s stock worth $17,000,000 after acquiring an additional 55,574 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Morningstar by 688.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 45,055 shares of the business services provider’s stock worth $13,511,000 after acquiring an additional 39,344 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Joseph D. Mansueto sold 6,705 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total transaction of $1,747,658.25. Following the sale, the chairman owned 9,312,836 shares in the company, valued at $2,427,390,703.40. The trade was a 0.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 85,500 shares of company stock worth $22,341,957. Insiders own 36.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.67.

Morningstar Trading Down 0.4%

MORN opened at $234.11 on Tuesday. The company’s 50 day moving average is $263.74 and its 200-day moving average is $284.62. Morningstar, Inc. has a 1-year low of $230.86 and a 1-year high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a market cap of $9.87 billion, a P/E ratio of 24.93 and a beta of 1.01.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.19. The company had revenue of $605.10 million during the quarter, compared to the consensus estimate of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar 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.