Kornitzer Capital Management Inc. KS Sells 110 Shares of Morningstar, Inc. (NASDAQ:MORN)

Kornitzer Capital Management Inc. KS lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,822 shares of the business services provider’s stock after selling 110 shares during the quarter. Kornitzer Capital Management Inc. KS owned about 0.07% of Morningstar worth $7,964,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MORN. Meeder Asset Management Inc. boosted its position in shares of Morningstar by 7,500.0% in the fourth quarter. Meeder Asset Management Inc. now owns 152 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 150 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Morningstar in the third quarter valued at approximately $42,000. Fifth Third Bancorp boosted its position in shares of Morningstar by 55.2% in the third quarter. Fifth Third Bancorp now owns 194 shares of the business services provider’s stock valued at $45,000 after acquiring an additional 69 shares during the period. Exchange Traded Concepts LLC bought a new position in Morningstar in the third quarter worth $48,000. Finally, Harbor Investment Advisory LLC bought a new position in Morningstar in the third quarter worth $52,000. Institutional investors own 57.02% of the company’s stock.

Morningstar Price Performance

Shares of NASDAQ:MORN traded up $5.58 on Friday, hitting $297.96. The stock had a trading volume of 153,552 shares, compared to its average volume of 100,725. Morningstar, Inc. has a twelve month low of $163.28 and a twelve month high of $316.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.93 and a current ratio of 0.93. The firm’s 50 day moving average price is $299.24 and its 200-day moving average price is $277.98. The company has a market capitalization of $12.73 billion, a price-to-earnings ratio of 90.84 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last issued its earnings results on Thursday, February 22nd. The business services provider reported $1.97 EPS for the quarter. Morningstar had a net margin of 6.92% and a return on equity of 18.54%. The company had revenue of $538.70 million for the quarter.

Morningstar Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, April 5th will be paid a $0.405 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.62 annualized dividend and a dividend yield of 0.54%. Morningstar’s dividend payout ratio is presently 49.39%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MORN shares. TheStreet raised Morningstar from a “c” rating to a “b” rating in a research report on Friday, February 23rd. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research report on Thursday, February 29th.

Insider Activity

In other news, Chairman Joseph D. Mansueto sold 6,926 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $279.39, for a total value of $1,935,055.14. Following the sale, the chairman now owns 10,934,986 shares in the company, valued at approximately $3,055,125,738.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Joseph D. Mansueto sold 6,926 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $279.39, for a total transaction of $1,935,055.14. Following the transaction, the chairman now owns 10,934,986 shares in the company, valued at approximately $3,055,125,738.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Joseph D. Mansueto sold 7,470 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $277.23, for a total transaction of $2,070,908.10. Following the completion of the sale, the chairman now owns 10,927,151 shares of the company’s stock, valued at approximately $3,029,334,071.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,544 shares of company stock worth $27,733,515. Corporate insiders own 39.90% of the company’s stock.

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.