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.
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.
Read Our Latest Analysis on MORN
Morningstar Company Profile
(
Free Report)
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.
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