The stock of Morningstar, Inc. (NASDAQ:MORN) hit a new 52-week low and has $64.35 target or 6.00% below today’s $68.46 share price. The 5 months bearish chart indicates high risk for the $2.89B company. The 1-year low was reported on Nov, 2 by Barchart.com. If the $64.35 price target is reached, the company will be worth $173.40 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 1.25% or $0.87 during the last trading session, hitting $68.46. About 78,674 shares traded hands or 5.59% up from the average. Morningstar, Inc. (NASDAQ:MORN) has declined 21.46% since March 31, 2016 and is downtrending. It has underperformed by 23.98% the S&P500.
According to Zacks Investment Research, “Morningstar, Inc. is a leading provider of investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutional clients.”
Insitutional Activity: The institutional sentiment decreased to 0.9 in Q2 2016. Its down 0.24, from 1.14 in 2016Q1. The ratio dived, as 21 funds sold all Morningstar, Inc. shares owned while 57 reduced positions. 15 funds bought stakes while 55 increased positions. They now own 15.94 million shares or 3.26% less from 16.48 million shares in 2016Q1.
Confluence Invest Management Limited Liability Corp has invested 0.33% of its portfolio in Morningstar, Inc. (NASDAQ:MORN). Ladenburg Thalmann Svcs Incorporated accumulated 968 shares or 0% of the stock. Evercore Wealth Limited Liability reported 76 shares or 0% of all its holdings. Brown Brothers Harriman accumulated 238 shares or 0% of the stock. Atlanta Capital Co L L C holds 3.37M shares or 1.84% of its portfolio. Bradley Foster Sargent Ct, a Connecticut-based fund reported 3,160 shares. State Board Of Administration Of Florida Retirement System last reported 35,121 shares in the company. Moreover, Kistler has 0.01% invested in Morningstar, Inc. (NASDAQ:MORN) for 267 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has 487 shares for 0% of their US portfolio. Martingale Asset Mngmt Lp accumulated 106,455 shares or 0.14% of the stock. Blackrock holds 0% of its portfolio in Morningstar, Inc. (NASDAQ:MORN) for 5,402 shares. Huntington Commercial Bank reported 5,270 shares or 0.01% of all its holdings. State Street has 0% invested in the company for 236,926 shares. Parkwood Ltd Limited Liability Company accumulated 5,529 shares or 0.08% of the stock. Kanaly Trust Communications, a Texas-based fund reported 297 shares.
Insider Transactions: Since May 3, 2016, the stock had 0 buys, and 3 insider sales for $316,386 net activity. 114 shares with value of $9,347 were sold by Desmond Bevin on Sunday, May 15. Kaplan Steven N sold $141,277 worth of stock or 2,000 shares.
More notable recent Morningstar, Inc. (NASDAQ:MORN) news were published by: Prnewswire.com which released: “Morningstar, Inc. Reports Third-Quarter 2016 Financial Results” on October 20, 2016, also Prnewswire.com with their article: “Morningstar Appoints Two Technology Executives; Expands Headquarters Space to …” published on October 31, 2016, Prnewswire.com published: “Morningstar, Inc. Names Kunal Kapoor Chief Executive Officer; Founder Joe …” on September 06, 2016. More interesting news about Morningstar, Inc. (NASDAQ:MORN) were released by: Prnewswire.com and their article: “Morningstar Reports U.S. Mutual Fund and ETF Asset Flows for September 2016” published on October 18, 2016 as well as Blogs.Wsj.com‘s news article titled: “Morningstar Names James Rhodes as First Chief Data Officer” with publication date: November 01, 2016.
MORN Company Profile
Morningstar, Inc., incorporated on May 16, 1984, is a well-known provider of independent investment research in North America, Europe, Australia and Asia. The Firm offers a line of data, software, research and investment management offerings for financial advisors, asset managers, retirement plan providers and sponsors, and individual investors. In addition to its United States services and products, the Company offers local versions of its products designed for investors in Asia, Australia, Canada, Europe, Latin America and South Africa. The Firm serves approximately 250,000 financial advisors, over 1,300 asset management firms, approximately 30 retirement plan providers, over 300,000 retirement plan sponsors and approximately 10.1 million individual investors. The Firm has activities in approximately 30 countries.
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