The stock of Morningstar, Inc. (NASDAQ:MORN) hit a new 52-week low and has $65.27 target or 5.00% below today’s $68.71 share price. The 6 months bearish chart indicates high risk for the $2.85B company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $65.27 price target is reached, the company will be worth $142.50M 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. About 96,646 shares traded hands or 14.49% up from the average. Morningstar, Inc. (NASDAQ:MORN) has declined 21.57% since April 5, 2016 and is downtrending. It has underperformed by 23.52% 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 2016 Q2. Its down 0.24, from 1.14 in 2016Q1. The ratio is negative, 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.
Renaissance Limited Com holds 0.1% of its portfolio in Morningstar, Inc. (NASDAQ:MORN) for 615,800 shares. First Manhattan has invested 0% of its portfolio in Morningstar, Inc. (NASDAQ:MORN). Fuller & Thaler Asset Management has invested 0% of its portfolio in Morningstar, Inc. (NASDAQ:MORN). Cap Fund Management accumulated 28,278 shares or 0.02% of the stock. Principal Group Inc last reported 0% of its portfolio in the stock. D E Shaw & last reported 0.01% of its portfolio in the stock. The Manitoba – Canada-based Great West Life Assurance Can has invested 0% in Morningstar, Inc. (NASDAQ:MORN). Alliancebernstein L P has invested 0% of its portfolio in Morningstar, Inc. (NASDAQ:MORN). Swiss Savings Bank holds 0% or 32,800 shares in its portfolio. Us National Bank & Trust De last reported 0% of its portfolio in the stock. Nationwide Fund Advsr has 0.01% invested in the company for 26,835 shares. Envestnet Asset Mgmt Inc has invested 0% of its portfolio in Morningstar, Inc. (NASDAQ:MORN). Tudor Invest Corporation Et Al last reported 0.01% of its portfolio in the stock. Utah Retirement Sys holds 0.01% of its portfolio in Morningstar, Inc. (NASDAQ:MORN) for 3,290 shares. The United Kingdom-based Legal General Grp Public Limited Company has invested 0% in Morningstar, Inc. (NASDAQ:MORN).
Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 2 insider sales for $150,624 net activity. Shares for $165,762 were sold by Desmond Bevin. 2,000 shares were sold by Kaplan Steven N, worth $141,277.
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 Reports U.S. Mutual Fund and ETF Asset Flows for September 2016” on October 18, 2016. More interesting news about Morningstar, Inc. (NASDAQ:MORN) were released by: Prnewswire.com and their article: “Morningstar to Acquire PitchBook Data; Agreement Will Combine Leading …” published on October 14, 2016 as well as Nasdaq.com‘s news article titled: “Morningstar Becomes Oversold” with publication date: November 04, 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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