Glenview Trust co Takes $227,000 Position in Morningstar, Inc. (NASDAQ:MORN)

Glenview Trust co bought a new stake in Morningstar, Inc. (NASDAQ:MORN) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 674 shares of the business services provider’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Morningstar by 26.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 1,269 shares of the business services provider’s stock valued at $427,000 after purchasing an additional 265 shares during the period. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Morningstar in the fourth quarter valued at about $547,000. Commonwealth Equity Services LLC lifted its stake in shares of Morningstar by 27.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,821 shares of the business services provider’s stock valued at $613,000 after purchasing an additional 393 shares during the period. Swiss National Bank lifted its stake in shares of Morningstar by 1.1% in the fourth quarter. Swiss National Bank now owns 54,800 shares of the business services provider’s stock valued at $18,454,000 after purchasing an additional 600 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Morningstar by 123.6% in the fourth quarter. Farther Finance Advisors LLC now owns 407 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Stock Performance

Shares of MORN opened at $291.71 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. The stock has a market cap of $12.50 billion, a P/E ratio of 38.54 and a beta of 1.23. The company has a 50-day moving average of $317.13 and a two-hundred day moving average of $328.55. Morningstar, Inc. has a 12-month low of $278.64 and a 12-month high of $365.00.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.15. The company had revenue of $591.00 million during the quarter, compared to analysts’ expectations of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BMO Capital Markets reduced their price objective on shares of 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 cut shares of Morningstar from a “buy” rating to a “hold” rating in a research report on Monday.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 3,635 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $325.44, for a total value of $1,182,974.40. Following the completion of the transaction, the chairman now owns 10,142,694 shares of the company’s stock, valued at $3,300,838,335.36. The trade was a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 59,544 shares of company stock valued at $18,770,097 over the last 90 days. Insiders own 39.90% of the company’s stock.

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.