Cardinal Capital Management Increases Stock Position in Morningstar, Inc. (NASDAQ:MORN)

Cardinal Capital Management increased its position in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,657 shares of the business services provider’s stock after purchasing an additional 87 shares during the quarter. Cardinal Capital Management’s holdings in Morningstar were worth $2,090,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MORN. Avantax Advisory Services Inc. grew its holdings in shares of Morningstar by 4.6% in the first quarter. Avantax Advisory Services Inc. now owns 3,839 shares of the business services provider’s stock valued at $779,000 after acquiring an additional 169 shares in the last quarter. HRT Financial LP increased its position in shares of Morningstar by 7.7% during the 4th quarter. HRT Financial LP now owns 23,144 shares of the business services provider’s stock valued at $5,012,000 after purchasing an additional 1,651 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Morningstar by 4.9% during the 4th quarter. JPMorgan Chase & Co. now owns 834,364 shares of the business services provider’s stock worth $180,715,000 after purchasing an additional 39,036 shares during the period. ExodusPoint Capital Management LP increased its holdings in Morningstar by 126.3% during the first quarter. ExodusPoint Capital Management LP now owns 4,576 shares of the business services provider’s stock worth $929,000 after buying an additional 2,554 shares during the last quarter. Finally, Legacy Advisors LLC boosted its stake in Morningstar by 8.5% in the first quarter. Legacy Advisors LLC now owns 2,887 shares of the business services provider’s stock valued at $586,000 after acquiring an additional 226 shares during the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Morningstar in a research note on Thursday, August 17th. They issued a “hold” rating on the stock.

Morningstar Stock Performance

NASDAQ MORN opened at $255.43 on Tuesday. The firm has a market cap of $10.89 billion, a P/E ratio of 481.95 and a beta of 1.15. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.91. The company’s 50 day moving average is $225.98 and its 200-day moving average is $207.14. Morningstar, Inc. has a 12-month low of $163.28 and a 12-month high of $259.28.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, July 26th. The business services provider reported $1.60 earnings per share (EPS) for the quarter. Morningstar had a return on equity of 12.16% and a net margin of 1.18%. The firm had revenue of $504.70 million for the quarter.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 224 shares of Morningstar stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $219.39, for a total transaction of $49,143.36. Following the completion of the transaction, the chairman now owns 11,216,521 shares of the company’s stock, valued at approximately $2,460,792,542.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gail S. Landis sold 580 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $250.00, for a total value of $145,000.00. Following the transaction, the director now owns 5,147 shares of the company’s stock, valued at $1,286,750. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Joseph D. Mansueto sold 224 shares of Morningstar stock in a transaction on Friday, August 18th. The shares were sold at an average price of $219.39, for a total value of $49,143.36. Following the sale, the chairman now directly owns 11,216,521 shares of the company’s stock, valued at approximately $2,460,792,542.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 165,714 shares of company stock valued at $35,462,575. Corporate insiders own 39.90% of the company’s stock.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Canada, Asia, Australia, Europe, the United Kingdom, and internationally. The company provides investment data, fundamental equity and manager research, private capital markets research, credit and fund rating, and index; environmental, social, and governance (ESG) rating, as well as indexes directly on its proprietary desktop or web-based software platforms, or through subscriptions, data feeds, and third-party distributors; and investment offerings, including managed investment products, publicly listed and private companies, fixed income securities, private credit, and bank loans.