Will Morningstar (MORN) Bounce Back?

Baron Funds, an investment management company, released its “Baron Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 1.61% compared to 0.24% up for the Russell 2000 Growth Index. The fund’s performance was in-line with the benchmark in the quarter, which was attributed to stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Morningstar, Inc. (NASDAQ:MORN) in the Q3 2022 investor letter. Headquartered in Chicago, Illinois, Morningstar, Inc. (NASDAQ:MORN) is an independent investment research firm. On November 15, 2022, Morningstar, Inc. (NASDAQ:MORN) stock closed at $245.05 per share. One-month return of Morningstar, Inc. (NASDAQ:MORN) was 14.00% and its shares lost 23.44% of their value over the last 52 weeks. Morningstar, Inc. (NASDAQ:MORN) has a market capitalization of $10.401 billion.

Baron Funds made the following comment about Morningstar, Inc. (NASDAQ:MORN) in its Q3 2022 investor letter:

Morningstar, Inc. (NASDAQ:MORN), a provider of independent investment research, detracted in the quarter due to multiple short-term headwinds. Market volatility has caused a slowdown in asset- and transaction-based revenue, while margins were pressured by an increase in merit-based compensation. Finally, there is investor concern that license revenue could decline if clients implement headcount reductions. We remain confident in Morningstar’s ability to grow organically despite the difficult near-term macro environment”

Research, Investment, Finance

Research, Investment, Finance

Morningstar, Inc. (NASDAQ:MORN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Morningstar, Inc. (NASDAQ:MORN) at the end of the second quarter, which was 23 in the previous quarter.

We discussed Morningstar, Inc. (NASDAQ:MORN) in another article and shared Wasatch Core Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.