Oppenheimer & Co. Inc. Cuts Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Oppenheimer & Co. Inc. lessened its position in Morningstar, Inc. (NASDAQ:MORN) by 5.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,236 shares of the business services provider’s stock after selling 130 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Morningstar were worth $323,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Morningstar by 13.4% in the 2nd quarter. Huntington National Bank now owns 1,064 shares of the business services provider’s stock valued at $154,000 after buying an additional 126 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of Morningstar in the 2nd quarter valued at $189,000. Hollencrest Capital Management purchased a new stake in shares of Morningstar in the 2nd quarter valued at $214,000. CIBC Private Wealth Group LLC purchased a new stake in shares of Morningstar in the 2nd quarter valued at $215,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Morningstar in the 2nd quarter valued at $217,000. Hedge funds and other institutional investors own 43.98% of the company’s stock.

NASDAQ MORN traded up $0.03 during trading hours on Thursday, hitting $156.38. 1,860 shares of the company were exchanged, compared to its average volume of 79,023. The company has a 50 day moving average of $155.85 and a two-hundred day moving average of $141.16. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.01. Morningstar, Inc. has a 52-week low of $99.67 and a 52-week high of $162.53. The firm has a market cap of $6.85 billion, a price-to-earnings ratio of 41.38 and a beta of 0.81.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Thursday, July 25th. The business services provider reported $0.98 earnings per share for the quarter. Morningstar had a return on equity of 17.36% and a net margin of 16.52%. The company had revenue of $273.90 million for the quarter.

In other Morningstar news, Chairman Joseph D. Mansueto sold 8,582 shares of the company’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $146.08, for a total transaction of $1,253,658.56. Following the sale, the chairman now owns 21,771,072 shares in the company, valued at approximately $3,180,318,197.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Joseph D. Mansueto sold 10,647 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $145.01, for a total value of $1,543,921.47. Following the sale, the insider now owns 21,898,379 shares in the company, valued at approximately $3,175,483,938.79. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 408,188 shares of company stock worth $61,608,515. 54.10% of the stock is owned by company insiders.

Separately, BidaskClub downgraded Morningstar from a “strong-buy” rating to a “buy” rating in a report on Wednesday.

Morningstar Company Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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