Renaissance Technologies LLC Boosts Stake in Morningstar, Inc. (MORN)
Renaissance Technologies LLC lifted its holdings in Morningstar, Inc. (NASDAQ:MORN) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 591,100 shares of the business services provider’s stock after buying an additional 4,900 shares during the period. Renaissance Technologies LLC owned approximately 1.39% of Morningstar worth $46,307,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of MORN. Nicholas Company Inc. boosted its position in Morningstar by 17.0% during the second quarter. Nicholas Company Inc. now owns 63,580 shares of the business services provider’s stock worth $4,980,000 after acquiring an additional 9,230 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its stake in Morningstar by 20.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 392,098 shares of the business services provider’s stock valued at $30,717,000 after acquiring an additional 67,491 shares in the last quarter. YHB Investment Advisors Inc. grew its stake in Morningstar by 16.0% during the 2nd quarter. YHB Investment Advisors Inc. now owns 22,846 shares of the business services provider’s stock valued at $1,790,000 after acquiring an additional 3,145 shares in the last quarter. Rhumbline Advisers raised its holdings in Morningstar by 34.7% in the 2nd quarter. Rhumbline Advisers now owns 43,022 shares of the business services provider’s stock valued at $3,370,000 after acquiring an additional 11,081 shares during the last quarter. Finally, Cardinal Capital Management raised its holdings in Morningstar by 18.2% in the 2nd quarter. Cardinal Capital Management now owns 13,450 shares of the business services provider’s stock valued at $1,054,000 after acquiring an additional 2,073 shares during the last quarter. 38.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Morningstar, Inc. (NASDAQ:MORN) opened at 84.99 on Monday. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 22.30 and a beta of 0.74. Morningstar, Inc. has a 52-week low of $67.74 and a 52-week high of $85.58. The stock has a 50 day moving average price of $81.96 and a 200-day moving average price of $78.27.
Separately, BidaskClub raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Friday, June 30th.
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In other news, insider Bevin Desmond sold 3,002 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $83.21, for a total value of $249,796.42. Following the sale, the insider now directly owns 34,040 shares in the company, valued at $2,832,468.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gail S. Landis sold 500 shares of the company’s stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $85.00, for a total value of $42,500.00. Following the completion of the sale, the director now owns 7,381 shares in the company, valued at $627,385. The disclosure for this sale can be found here. Insiders have sold 4,502 shares of company stock valued at $374,901 in the last three months. 57.40% of the stock is currently owned by company insiders.
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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