Proficio Capital Partners LLC Takes Position in Morningstar, Inc. (NASDAQ:MORN)

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

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its stake in shares of Morningstar by 0.7% in the 4th quarter. Harbor Capital Advisors Inc. now owns 5,626 shares of the business services provider’s stock worth $1,895,000 after purchasing an additional 37 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Morningstar by 15.9% during the fourth quarter. Versant Capital Management Inc now owns 285 shares of the business services provider’s stock worth $96,000 after buying an additional 39 shares in the last quarter. CIBC Asset Management Inc grew its position in Morningstar by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,259 shares of the business services provider’s stock worth $402,000 after buying an additional 41 shares during the last quarter. V Square Quantitative Management LLC grew its position in Morningstar by 49.5% in the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider’s stock worth $47,000 after buying an additional 46 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV increased its holdings in shares of Morningstar by 2.2% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,254 shares of the business services provider’s stock valued at $719,000 after buying an additional 49 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Morningstar Trading Up 1.6 %

Morningstar stock opened at $286.94 on Monday. Morningstar, Inc. has a 52 week low of $278.64 and a 52 week high of $365.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 37.90 and a beta of 1.23. The company has a 50 day moving average price of $318.39 and a 200 day moving average price of $328.85.

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. Morningstar had a return on equity of 23.28% and a net margin of 14.69%. The business had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million.

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,280 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $320.57, for a total value of $410,329.60. Following the transaction, the chairman now owns 10,130,378 shares in the company, valued at approximately $3,247,495,275.46. This represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 59,542 shares of company stock worth $18,769,523. 39.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on MORN. BMO Capital Markets reduced their price objective on Morningstar from $387.00 to $370.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd. StockNews.com upgraded Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th.

About Morningstar

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.