Proficio Capital Partners LLC Makes New Investment in Morningstar, Inc. (NASDAQ:MORN)

Proficio Capital Partners LLC acquired a new stake in Morningstar, Inc. (NASDAQ:MORN) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 17,192 shares of the business services provider’s stock, valued at approximately $5,790,000.

A number of other large investors have also recently bought and sold shares of MORN. M&T Bank Corp lifted its position in shares of Morningstar by 3.4% in the fourth quarter. M&T Bank Corp now owns 9,172 shares of the business services provider’s stock worth $3,088,000 after buying an additional 303 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Morningstar by 4.9% in the 4th 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. lifted its holdings in Morningstar by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 194,195 shares of the business services provider’s stock worth $65,397,000 after purchasing an additional 2,430 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider’s stock worth $26,000 after purchasing an additional 50 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in Morningstar by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 22,001 shares of the business services provider’s stock valued at $7,409,000 after purchasing an additional 659 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

Morningstar Trading Up 1.6 %

Shares of MORN stock opened at $286.94 on Monday. The firm has a market capitalization of $12.29 billion, a P/E ratio of 37.90 and a beta of 1.23. Morningstar, Inc. has a 1 year low of $278.64 and a 1 year high of $365.00. The firm’s fifty day simple moving average is $318.39 and its 200 day simple moving average is $328.85. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, February 26th. The business services provider reported $2.14 EPS for the quarter, topping the consensus estimate of $1.99 by $0.15. The firm had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million. Morningstar had a return on equity of 23.28% and a net margin of 14.69%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MORN shares. StockNews.com raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. BMO Capital Markets cut their price objective on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,716 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $327.89, for a total transaction of $562,659.24. Following the completion of the transaction, the chairman now owns 10,151,120 shares in the company, valued at $3,328,450,736.80. This trade represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 59,542 shares of company stock worth $18,769,523 over the last quarter. Company insiders own 39.90% of the company’s stock.

Morningstar 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.