Fox Run Management L.L.C. Has $1.61 Million Stake in Morningstar, Inc. $MORN

Fox Run Management L.L.C. lifted its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 91.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,130 shares of the business services provider’s stock after acquiring an additional 2,453 shares during the quarter. Fox Run Management L.L.C.’s holdings in Morningstar were worth $1,610,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Morningstar by 3.0% during the 2nd quarter. Nordea Investment Management AB now owns 60,181 shares of the business services provider’s stock worth $18,801,000 after purchasing an additional 1,755 shares during the last quarter. Voya Investment Management LLC increased its position in Morningstar by 9.1% during the 1st quarter. Voya Investment Management LLC now owns 12,940 shares of the business services provider’s stock worth $3,880,000 after buying an additional 1,081 shares during the period. Brighton Jones LLC acquired a new stake in shares of Morningstar during the second quarter worth $373,000. Royal Bank of Canada boosted its position in shares of Morningstar by 106.8% in the first quarter. Royal Bank of Canada now owns 37,089 shares of the business services provider’s stock valued at $11,121,000 after acquiring an additional 19,155 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Morningstar by 90.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,425 shares of the business services provider’s stock valued at $1,066,000 after acquiring an additional 1,623 shares during the period. Institutional investors own 57.02% of the company’s stock.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $260.30, for a total transaction of $1,887,175.00. Following the sale, the chairman owned 9,332,981 shares of the company’s stock, valued at $2,429,374,954.30. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 85,364 shares of company stock valued at $20,970,851. 36.20% of the stock is currently owned by corporate insiders.

Morningstar Trading Up 1.8%

MORN opened at $215.49 on Friday. The company has a market cap of $8.86 billion, a P/E ratio of 24.52 and a beta of 1.06. 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’s 50 day moving average is $231.27 and its 200-day moving average is $269.77. Morningstar, Inc. has a 1-year low of $202.89 and a 1-year high of $365.00.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.42 by $0.13. Morningstar had a net margin of 15.70% and a return on equity of 24.68%. The business had revenue of $617.40 million during the quarter, compared to the consensus estimate of $603.29 million.

Analyst Ratings Changes

A number of brokerages have issued reports on MORN. UBS Group decreased their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $250.00 price target on Morningstar in a research report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Morningstar presently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

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.