Twin Capital Management Inc. raised its stake in Morningstar, Inc. (NASDAQ:MORN) by 16.8% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,240 shares of the business services provider’s stock after buying an additional 2,050 shares during the period. Twin Capital Management Inc.’s holdings in Morningstar were worth $1,116,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. YHB Investment Advisors Inc. boosted its position in shares of Morningstar by 16.0% in the second quarter. YHB Investment Advisors Inc. now owns 22,846 shares of the business services provider’s stock valued at $1,790,000 after buying an additional 3,145 shares during the last quarter. Cardinal Capital Management boosted its position in shares of Morningstar by 18.2% in the second quarter. Cardinal Capital Management now owns 13,450 shares of the business services provider’s stock valued at $1,054,000 after buying an additional 2,073 shares during the last quarter. Sei Investments Co. boosted its position in shares of Morningstar by 49.8% in the second quarter. Sei Investments Co. now owns 49,472 shares of the business services provider’s stock valued at $3,875,000 after buying an additional 16,448 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Morningstar by 1.7% in the second quarter. Legal & General Group Plc now owns 7,644 shares of the business services provider’s stock valued at $599,000 after buying an additional 127 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Morningstar by 0.3% in the second quarter. Alps Advisors Inc. now owns 6,018 shares of the business services provider’s stock valued at $471,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 38.78% of the company’s stock.
Shares of Morningstar, Inc. (MORN) opened at 82.11 on Friday. The firm has a 50-day moving average of $81.17 and a 200-day moving average of $78.03. Morningstar, Inc. has a 52 week low of $67.74 and a 52 week high of $84.68. The firm has a market cap of $3.49 billion, a PE ratio of 21.55 and a beta of 0.75.
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Separately, BidaskClub cut shares of Morningstar from a “hold” rating to a “sell” rating in a report on Friday, June 9th.
In other news, Director Gail S. Landis sold 500 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $83.00, for a total transaction of $41,500.00. Following the completion of the transaction, the director now directly owns 7,881 shares in the company, valued at $654,123. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bevin Desmond sold 3,002 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $83.21, for a total value of $249,796.42. Following the transaction, the insider now owns 34,040 shares of the company’s stock, valued at $2,832,468.40. The disclosure for this sale can be found here. Insiders have sold 4,002 shares of company stock valued at $332,401 over the last 90 days. Corporate insiders own 57.40% of the company’s stock.
About Morningstar
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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