GAMMA Investing LLC Acquires 143,770 Shares of Morningstar, Inc. (NASDAQ:MORN)

GAMMA Investing LLC boosted its stake in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) by 30,785.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 144,237 shares of the business services provider's stock after acquiring an additional 143,770 shares during the quarter. GAMMA Investing LLC owned approximately 0.34% of Morningstar worth $43,252,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MORN. Smartleaf Asset Management LLC boosted its stake in shares of Morningstar by 178.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock valued at $26,000 after purchasing an additional 50 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in Morningstar during the 4th quarter worth approximately $28,000. V Square Quantitative Management LLC boosted its position in shares of Morningstar by 49.5% during the fourth quarter. V Square Quantitative Management LLC now owns 139 shares of the business services provider's stock worth $47,000 after purchasing an additional 46 shares in the last quarter. Johnson Financial Group Inc. bought a new position in shares of Morningstar during the fourth quarter worth $71,000. Finally, Whittier Trust Co. boosted its position in shares of Morningstar by 64.2% during the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock worth $91,000 after purchasing an additional 106 shares in the last quarter. Institutional investors own 57.02% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MORN shares. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. BMO Capital Markets upped their price target on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th.

Insider Buying and Selling

In other Morningstar news, Chairman Joseph D. Mansueto sold 1,246 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $306.52, for a total transaction of $381,923.92. Following the transaction, the chairman now directly owns 9,427,836 shares in the company, valued at approximately $2,889,820,290.72. This trade represents a 0.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Caroline J. Tsay sold 200 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $309.84, for a total transaction of $61,968.00. Following the transaction, the director now directly owns 4,345 shares in the company, valued at $1,346,254.80. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,633 shares of company stock valued at $18,891,798 over the last 90 days. 36.20% of the stock is owned by insiders.

Morningstar Price Performance

Morningstar stock traded up $5.73 during midday trading on Friday, reaching $312.39. The company's stock had a trading volume of 222,161 shares, compared to its average volume of 145,299. The stock has a market cap of $13.20 billion, a PE ratio of 41.27 and a beta of 1.02. 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 business has a 50-day moving average price of $291.59 and a 200-day moving average price of $314.05. Morningstar, Inc. has a 52 week low of $250.34 and a 52 week high of $365.00.

Morningstar (NASDAQ:MORN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.10 by $0.13. The firm had revenue of $581.90 million for the quarter, compared to analysts' expectations of $589.07 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Friday, April 4th were paid a $0.455 dividend. This is a boost from Morningstar's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, April 4th. This represents a $1.82 annualized dividend and a dividend yield of 0.58%. Morningstar's payout ratio is currently 20.45%.

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.