Cannon Global Investment Management LLC Takes $287,000 Position in Morningstar, Inc. (NASDAQ:MORN)

Cannon Global Investment Management LLC purchased a new stake in shares of Morningstar, Inc. (NASDAQ:MORN) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 900 shares of the business services provider’s stock, valued at approximately $287,000.

A number of other hedge funds also recently made changes to their positions in MORN. Angeles Wealth Management LLC acquired a new position in shares of Morningstar during the third quarter valued at approximately $295,000. Harbor Capital Advisors Inc. increased its stake in shares of Morningstar by 111.9% during the third quarter. Harbor Capital Advisors Inc. now owns 5,589 shares of the business services provider’s stock valued at $1,784,000 after acquiring an additional 2,952 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Morningstar by 14.2% during the third quarter. Janney Montgomery Scott LLC now owns 3,283 shares of the business services provider’s stock valued at $1,048,000 after acquiring an additional 407 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Morningstar by 93.6% during the third quarter. Farther Finance Advisors LLC now owns 182 shares of the business services provider’s stock valued at $58,000 after acquiring an additional 88 shares during the period. Finally, Fonville Wealth Management LLC acquired a new position in shares of Morningstar during the third quarter valued at approximately $216,000. Institutional investors own 57.02% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $302.64, for a total value of $2,742,523.68. Following the transaction, the chairman now owns 10,631,706 shares in the company, valued at $3,217,579,503.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $302.64, for a total value of $2,742,523.68. Following the transaction, the chairman now owns 10,631,706 shares in the company, valued at $3,217,579,503.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Joseph D. Mansueto sold 5,117 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $304.70, for a total transaction of $1,559,149.90. Following the transaction, the chairman now owns 10,620,679 shares in the company, valued at approximately $3,236,120,891.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,547 shares of company stock worth $17,771,996 in the last quarter. 39.90% of the stock is currently owned by company insiders.

Morningstar Price Performance

Morningstar stock traded up $0.36 during mid-day trading on Friday, hitting $328.41. The company’s stock had a trading volume of 151,632 shares, compared to its average volume of 127,506. The company has a quick ratio of 1.05, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a twelve month low of $255.52 and a twelve month high of $349.07. The stock’s fifty day moving average price is $323.12 and its two-hundred day moving average price is $308.04. The stock has a market capitalization of $14.08 billion, a P/E ratio of 43.38 and a beta of 1.18.

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

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Friday, October 4th were issued a $0.405 dividend. The ex-dividend date was Friday, October 4th. This represents a $1.62 annualized dividend and a yield of 0.49%. Morningstar’s dividend payout ratio (DPR) is presently 21.40%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. UBS Group assumed coverage on shares of Morningstar in a research note on Tuesday, October 8th. They set a “buy” rating and a $390.00 price objective on the stock. BMO Capital Markets restated an “outperform” rating and issued a $352.00 price target on shares of Morningstar in a research 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 price target on the stock. in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.