Seven Eight Capital LP Takes $253,000 Position in Morningstar, Inc. (NASDAQ:MORN)

Seven Eight Capital LP purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 854 shares of the business services provider’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc boosted its position in Morningstar by 21.9% during the second quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock valued at $72,000 after purchasing an additional 44 shares during the last quarter. Legacy Advisors LLC lifted its holdings in shares of Morningstar by 1.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock valued at $895,000 after buying an additional 49 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Morningstar by 38.6% in the 2nd quarter. GAMMA Investing LLC now owns 183 shares of the business services provider’s stock valued at $54,000 after buying an additional 51 shares in the last quarter. Great Valley Advisor Group Inc. increased its holdings in Morningstar by 7.3% in the second quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock worth $223,000 after buying an additional 51 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Morningstar by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 54 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Stock Up 1.0 %

MORN stock opened at $323.74 on Tuesday. The business’s 50-day simple moving average is $312.18 and its 200 day simple moving average is $303.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63. The company has a market cap of $13.84 billion, a PE ratio of 65.40 and a beta of 1.18. Morningstar, Inc. has a twelve month low of $219.45 and a twelve month high of $330.22.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, July 24th. The business services provider reported $2.01 earnings per share for the quarter. The business had revenue of $571.90 million for the quarter. Morningstar had a net margin of 11.34% and a return on equity of 22.34%.

Morningstar Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, October 4th. Morningstar’s payout ratio is 32.73%.

Analyst Ratings Changes

Separately, BMO Capital Markets restated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th.

Insider Transactions at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total value of $2,742,523.68. Following the completion of the transaction, the chairman now owns 10,631,706 shares in the company, valued at approximately $3,217,579,503.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $302.64, for a total transaction of $2,742,523.68. Following the completion of the sale, the chairman now owns 10,631,706 shares in the company, valued at $3,217,579,503.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Joseph D. Mansueto sold 721 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $312.94, for a total value of $225,629.74. Following the sale, the chairman now directly owns 10,532,253 shares of the company’s stock, valued at $3,295,963,253.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,941 shares of company stock valued at $19,402,863. Corporate insiders own 39.90% of the company’s stock.

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.