Morningstar surged to $249.88 per share this afternoon, but it remains 8.64% above its mean target price of $230.0. There may still be room for more downwards movement — even after today's 13.5% drop. Analysts are giving the large-cap Asset Management stock on average rating of hold, with target prices ranging from $230.0 to $230.0 per share.
The stock has an average amount of shares sold short at 3.0%, and a short ratio of 2.09. The company's insiders own 44.43% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that an average number of institutional investors are invested in the stock, with 56.4% of Morningstar's shares being owned by this investor type.
Institutions Invested in Morningstar
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-06-30 | Select Equity Group, Inc. | 9% | 3,937,634 | $983,936,003 |
| 2023-06-30 | Vanguard Group Inc | 6% | 2,477,583 | $619,098,452 |
| 2023-06-30 | Morgan Stanley | 5% | 1,938,191 | $484,315,176 |
| 2023-06-30 | Bank of America Corporation | 3% | 1,294,795 | $323,543,380 |
| 2023-06-30 | Kayne Anderson Rudnick Investment Management LLC | 3% | 1,254,599 | $313,499,204 |
| 2023-06-30 | BAMCO Inc. | 3% | 1,228,417 | $306,956,845 |
| 2023-06-30 | Blackrock Inc. | 3% | 1,148,416 | $286,966,195 |
| 2023-06-30 | JP Morgan Chase & Company | 2% | 773,416 | $193,261,193 |
| 2023-06-30 | Goldman Sachs Group Inc | 2% | 754,704 | $188,585,439 |
| 2023-06-30 | Massachusetts Financial Services Co. | 1% | 627,357 | $156,763,970 |
Besides an analyst consensus of little upside potential, other market factors point to there being mixed market sentiment on Morningstar.
