Morningstar, Inc. (NASDAQ:MORN) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Friday, June 30th.
Shares of Morningstar (NASDAQ MORN) traded up 1.05% during midday trading on Friday, reaching $83.12. The company’s stock had a trading volume of 89,691 shares. The company has a market cap of $3.55 billion, a price-to-earnings ratio of 21.81 and a beta of 0.74. The stock has a 50-day moving average of $78.45 and a 200 day moving average of $77.09. Morningstar has a 12 month low of $67.74 and a 12 month high of $84.76.
In related news, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $83.00, for a total transaction of $41,500.00. Following the completion of the transaction, the director now directly owns 7,881 shares of the company’s stock, valued at approximately $654,123. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bevin Desmond sold 3,002 shares of Morningstar stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $83.21, for a total value of $249,796.42. Following the completion of the transaction, the insider now directly owns 34,040 shares of the company’s stock, valued at $2,832,468.40. The disclosure for this sale can be found here. 57.40% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in Morningstar stock. Cardinal Capital Management raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 18.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,450 shares of the business services provider’s stock after buying an additional 2,073 shares during the period. Cardinal Capital Management’s holdings in Morningstar were worth $1,054,000 at the end of the most recent quarter. 38.49% of the stock is owned by hedge funds and other institutional investors.
Morningstar Company Profile
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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