Kayne Anderson Rudnick Investment Management LLC Reduces Stake in Morningstar, Inc. (NASDAQ:MORN)

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Kayne Anderson Rudnick Investment Management LLC lessened its holdings in shares of Morningstar, Inc. (NASDAQ:MORN) by 0.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 1,745,915 shares of the business services provider’s stock after selling 6,605 shares during the period. Morningstar makes up 1.3% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 21st largest position. Kayne Anderson Rudnick Investment Management LLC’s holdings in Morningstar were worth $219,969,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MORN. Rockefeller Capital Management L.P. bought a new stake in shares of Morningstar during the 1st quarter valued at $25,000. Tyers Asset Management LLC bought a new stake in shares of Morningstar during the 1st quarter valued at $58,000. Cresset Asset Management LLC bought a new stake in shares of Morningstar during the 1st quarter valued at $80,000. Neuburgh Advisers LLC bought a new stake in shares of Morningstar during the 1st quarter valued at $90,000. Finally, One Wealth Advisors LLC bought a new stake in shares of Morningstar during the 1st quarter valued at $152,000. Hedge funds and other institutional investors own 42.64% of the company’s stock.

Morningstar stock traded down $1.16 during mid-day trading on Friday, reaching $145.59. The stock had a trading volume of 78,356 shares, compared to its average volume of 77,448. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 37.72 and a beta of 0.86. Morningstar, Inc. has a one year low of $99.67 and a one year high of $149.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, April 24th. The business services provider reported $0.77 earnings per share (EPS) for the quarter. The company had revenue of $258.90 million for the quarter. Morningstar had a net margin of 16.84% and a return on equity of 17.95%.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, July 5th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Wednesday, July 3rd.

Separately, BidaskClub cut shares of Morningstar from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th.

In related news, insider Joseph D. Mansueto sold 8,750 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $147.10, for a total value of $1,287,125.00. Following the transaction, the insider now owns 21,920,555 shares in the company, valued at approximately $3,224,513,640.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph D. Mansueto sold 18,301 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $121.99, for a total transaction of $2,232,538.99. Following the completion of the transaction, the insider now owns 22,299,994 shares in the company, valued at approximately $2,720,376,268.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 361,630 shares of company stock worth $48,053,591. 54.10% of the stock is currently owned by company insiders.

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About Morningstar

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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Want to see what other hedge funds are holding MORN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Morningstar, Inc. (NASDAQ:MORN).

Institutional Ownership by Quarter for Morningstar (NASDAQ:MORN)

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