BlueMountain Capital Management LLC Cuts Stake in Morningstar, Inc. (NASDAQ:MORN)

BlueMountain Capital Management LLC lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,033 shares of the business services provider’s stock after selling 502 shares during the period. BlueMountain Capital Management LLC’s holdings in Morningstar were worth $1,030,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its holdings in Morningstar by 300.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,176 shares of the business services provider’s stock valued at $208,000 after purchasing an additional 1,632 shares during the period. Connable Office Inc. bought a new position in Morningstar in the 2nd quarter valued at $215,000. Creative Planning bought a new position in Morningstar in the 2nd quarter valued at $217,000. Spectrum Asset Management Inc. NB CA bought a new position in Morningstar in the 2nd quarter valued at $231,000. Finally, Meeder Asset Management Inc. bought a new position in Morningstar in the 2nd quarter valued at $272,000. Institutional investors own 39.62% of the company’s stock.

In related news, insider Joseph D. Mansueto sold 25,992 shares of Morningstar stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $140.94, for a total value of $3,663,312.48. Following the transaction, the insider now owns 23,186,816 shares in the company, valued at approximately $3,267,949,847.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William M. Lyons sold 625 shares of Morningstar stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $133.54, for a total transaction of $83,462.50. Following the completion of the transaction, the director now owns 16,752 shares in the company, valued at approximately $2,237,062.08. The disclosure for this sale can be found here. Insiders have sold a total of 333,741 shares of company stock valued at $44,838,523 over the last ninety days. 57.50% of the stock is currently owned by insiders.

Separately, BidaskClub downgraded shares of Morningstar from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 19th.

NASDAQ:MORN traded down $1.76 during trading hours on Friday, hitting $117.65. The stock had a trading volume of 85,193 shares, compared to its average volume of 76,523. Morningstar, Inc. has a one year low of $82.64 and a one year high of $144.34. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.71 and a quick ratio of 1.71. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 37.14 and a beta of 0.82.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 25th. The business services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.28. Morningstar had a net margin of 16.15% and a return on equity of 17.53%. The company had revenue of $252.40 million during the quarter.

About Morningstar

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, and Asia. 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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