Morningstar, Inc. (NASDAQ:MORN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 71.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 313 shares of the business services provider’s stock after buying an additional 130 shares during the period. GAMMA Investing LLC’s holdings in Morningstar were worth $100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Morningstar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,576,670 shares of the business services provider’s stock valued at $737,546,000 after purchasing an additional 23,812 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Morningstar by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,099,502 shares of the business services provider’s stock worth $325,288,000 after acquiring an additional 4,822 shares in the last quarter. Wasatch Advisors LP increased its holdings in Morningstar by 5.3% in the 1st quarter. Wasatch Advisors LP now owns 562,099 shares of the business services provider’s stock worth $173,334,000 after acquiring an additional 28,164 shares in the last quarter. Wellington Management Group LLP increased its holdings in Morningstar by 45.9% in the 4th quarter. Wellington Management Group LLP now owns 509,486 shares of the business services provider’s stock worth $145,835,000 after acquiring an additional 160,281 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Morningstar by 154.0% in the 2nd quarter. Millennium Management LLC now owns 320,186 shares of the business services provider’s stock worth $94,727,000 after acquiring an additional 194,122 shares in the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CRO Daniel Joseph Dunn sold 1,600 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now owns 12,967 shares of the company’s stock, valued at approximately $4,160,980.63. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 721 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $312.94, for a total transaction of $225,629.74. Following the completion of the transaction, the chairman now directly owns 10,532,253 shares in the company, valued at $3,295,963,253.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,541 shares of company stock valued at $18,399,192. 39.90% of the stock is currently owned by insiders.

Morningstar Price Performance

Morningstar stock opened at $342.42 on Tuesday. Morningstar, Inc. has a 52-week low of $219.45 and a 52-week high of $342.42. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 69.17 and a beta of 1.19. The company has a fifty day simple moving average of $315.32 and a 200-day simple moving average of $305.03. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.63.

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

Morningstar Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, October 4th will be given a dividend of $0.405 per share. The ex-dividend date is Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s payout ratio is 32.73%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MORN. Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price target for the company. in a report on Wednesday, October 9th. BMO Capital Markets reissued an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. Finally, UBS Group started coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target for the company. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Morningstar has a consensus rating of “Moderate Buy” and a consensus price target of $360.67.

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.