Proficio Capital Partners LLC Acquires Shares of 17,192 Morningstar, Inc. (NASDAQ:MORN)

Proficio Capital Partners LLC bought a new stake in Morningstar, Inc. (NASDAQ:MORN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,192 shares of the business services provider's stock, valued at approximately $5,790,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. M&T Bank Corp raised its holdings in Morningstar by 3.4% in the fourth quarter. M&T Bank Corp now owns 9,172 shares of the business services provider's stock valued at $3,088,000 after acquiring an additional 303 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Morningstar by 4.9% in the fourth quarter. Victory Capital Management Inc. now owns 16,626 shares of the business services provider's stock valued at $5,599,000 after acquiring an additional 783 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Morningstar by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 194,195 shares of the business services provider's stock valued at $65,397,000 after acquiring an additional 2,430 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Morningstar by 178.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after acquiring an additional 50 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Morningstar by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,001 shares of the business services provider's stock worth $7,409,000 after purchasing an additional 659 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total value of $2,557,749.50. Following the completion of the transaction, the chairman now owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This represents a 0.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 59,544 shares of company stock worth $18,770,097 in the last 90 days. Corporate insiders own 39.90% of the company's stock.

Morningstar Stock Performance

Shares of MORN stock traded up $4.15 during trading hours on Monday, reaching $291.09. The stock had a trading volume of 275,639 shares, compared to its average volume of 115,063. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.14 and a quick ratio of 1.14. Morningstar, Inc. has a twelve month low of $278.64 and a twelve month high of $365.00. The firm has a 50-day simple moving average of $318.39 and a 200-day simple moving average of $328.85. The firm has a market capitalization of $12.47 billion, a PE ratio of 38.45 and a beta of 1.23.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.15. Morningstar had a net margin of 14.69% and a return on equity of 23.28%. The business had revenue of $591.00 million for the quarter, compared to analysts' expectations of $580.81 million.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MORN. BMO Capital Markets dropped their target price on shares of Morningstar from $387.00 to $370.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. StockNews.com raised shares of Morningstar from a "hold" rating to a "buy" rating in a report on Thursday, February 27th.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.