Kornitzer Capital Management Inc. KS Has $8.40 Million Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Kornitzer Capital Management Inc. KS raised its holdings in Morningstar, Inc. (NASDAQ:MORN) by 0.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 26,324 shares of the business services provider’s stock after acquiring an additional 40 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Morningstar were worth $8,401,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Morningstar by 21.9% during the 2nd quarter. Versant Capital Management Inc now owns 245 shares of the business services provider’s stock worth $72,000 after buying an additional 44 shares during the period. Legacy Advisors LLC raised its position in shares of Morningstar by 1.6% during the second quarter. Legacy Advisors LLC now owns 3,025 shares of the business services provider’s stock worth $895,000 after purchasing an additional 49 shares during the period. GAMMA Investing LLC grew its position in 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 purchasing an additional 51 shares during the period. Great Valley Advisor Group Inc. increased its stake in Morningstar by 7.3% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 754 shares of the business services provider’s stock valued at $223,000 after purchasing an additional 51 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in Morningstar by 38.0% during the second quarter. Nisa Investment Advisors LLC now owns 196 shares of the business services provider’s stock worth $58,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Insider Activity

In other Morningstar news, Director William M. Lyons sold 750 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $311.60, for a total transaction of $233,700.00. Following the sale, the director now owns 14,340 shares in the company, valued at $4,468,344. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $311.60, for a total transaction of $233,700.00. Following the completion of the transaction, the director now owns 14,340 shares of the company’s stock, valued at approximately $4,468,344. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 5,257 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $310.37, for a total transaction of $1,631,615.09. Following the completion of the sale, the chairman now owns 10,599,799 shares in the company, valued at $3,289,859,615.63. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,492 shares of company stock valued at $19,430,128 over the last quarter. Company insiders own 39.90% of the company’s stock.

Wall Street Analyst Weigh In

MORN has been the topic of several recent research reports. UBS Group began coverage on shares of Morningstar in a research report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. StockNews.com lowered Morningstar from a “buy” rating to a “hold” rating in a report on Thursday. BMO Capital Markets reiterated an “outperform” rating and set a $352.00 price target on shares of Morningstar in a report on Wednesday, August 28th. Finally, Redburn Atlantic lowered shares of Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 target price for the company. in a research note on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Morningstar presently has an average rating of “Moderate Buy” and a consensus price target of $360.67.

Morningstar Stock Performance

Shares of MORN stock opened at $343.27 on Friday. 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 cap of $14.72 billion, a price-to-earnings ratio of 45.35 and a beta of 1.18. Morningstar, Inc. has a 52 week low of $259.50 and a 52 week high of $349.07. The firm’s 50-day simple moving average is $325.34 and its two-hundred day simple moving average is $309.16.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.01). The firm had revenue of $569.40 million during the quarter. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Friday, October 4th were paid a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.47%. Morningstar’s payout ratio is 21.40%.

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.