Cardinal Capital Management Has $4.35 Million Holdings in Morningstar, Inc. $MORN

Key Points

• Cardinal Capital Management increased its stake in Morningstar, Inc. by 12.3%, bringing its total holdings to 13,854 shares valued at approximately $4.35 million.
• Multiple institutional investors have boosted their holdings in Morningstar, with Wealth Enhancement Advisory Services LLC increasing its stake by 90.1% in the second quarter.
• Morningstar recently reported quarterly earnings, surpassing analysts' estimates with an EPS of $2.40, although revenue fell slightly short of expectations.

Cardinal Capital Management lifted its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,854 shares of the business services provider's stock after buying an additional 1,519 shares during the period. Cardinal Capital Management's holdings in Morningstar were worth $4,349,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Park Avenue Securities LLC increased its holdings in Morningstar by 5.6% in the 2nd quarter. Park Avenue Securities LLC now owns 1,721 shares of the business services provider's stock worth $540,000 after purchasing an additional 92 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Morningstar by 30.2% in the second quarter. UMB Bank n.a. now owns 672 shares of the business services provider's stock valued at $211,000 after buying an additional 156 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Morningstar in the second quarter valued at approximately $33,098,000. Cooper Investors PTY Ltd. increased its stake in shares of Morningstar by 27.1% in the second quarter. Cooper Investors PTY Ltd. now owns 30,985 shares of the business services provider's stock valued at $9,727,000 after buying an additional 6,598 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Morningstar by 90.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,425 shares of the business services provider's stock valued at $1,066,000 after buying an additional 1,623 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Morningstar

In other Morningstar news, Chairman Joseph D. Mansueto sold 6,705 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $260.65, for a total value of $1,747,658.25. Following the completion of the sale, the chairman owned 9,312,836 shares of the company's stock, valued at approximately $2,427,390,703.40. This trade represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 85,500 shares of company stock valued at $22,341,957. Company insiders own 36.20% of the company's stock.

Morningstar Trading Down 0.4%

NASDAQ:MORN opened at $234.11 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 24.93 and a beta of 1.01. The firm has a fifty day simple moving average of $263.74 and a two-hundred day simple moving average of $284.62. Morningstar, Inc. has a 12 month low of $230.86 and a 12 month high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.40 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.19. The business had revenue of $605.10 million during the quarter, compared to analysts' expectations of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Morningstar presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.67.

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.

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