Kornitzer Capital Management Inc. KS Sells 463 Shares of Morningstar, Inc. $MORN

Kornitzer Capital Management Inc. KS trimmed its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,841 shares of the business services provider’s stock after selling 463 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.06% of Morningstar worth $7,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hughes Financial Services LLC purchased a new position in Morningstar during the first quarter worth about $25,000. IFP Advisors Inc lifted its position in shares of Morningstar by 270.3% during the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock worth $43,000 after buying an additional 100 shares in the last quarter. MAI Capital Management boosted its stake in shares of Morningstar by 37.8% in the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after buying an additional 42 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Morningstar by 5,066.7% in the first quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 152 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $256.50, for a total value of $1,859,625.00. Following the completion of the transaction, the chairman directly owned 9,373,175 shares in the company, valued at approximately $2,404,219,387.50. The trade was a 0.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 85,500 shares of company stock valued at $22,341,957. 36.20% of the stock is currently owned by company insiders.

Morningstar Stock Up 0.7%

MORN stock opened at $219.54 on Friday. The stock has a fifty day moving average of $240.82 and a 200-day moving average of $274.12. Morningstar, Inc. has a fifty-two week low of $210.02 and a fifty-two week high of $365.00. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of 23.38 and a beta of 1.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13.

Morningstar (NASDAQ:MORN) last released its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, beating the consensus estimate of $2.21 by $0.19. The business had revenue of $605.10 million for the quarter, compared to the consensus estimate of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen cut Morningstar from a “buy” rating to a “hold” rating in a research report on Saturday, July 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Morningstar has an average rating of “Moderate Buy” and an average price target of $355.00.

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.