Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 7,250 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $214.16, for a total value of $1,552,660.00. Following the sale, the chairman owned 7,947,946 shares of the company’s stock, valued at $1,702,132,115.36. This trade represents a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

NASDAQ MORN opened at $215.97 on Friday. The company has a fifty day moving average price of $178.94 and a 200-day moving average price of $176.67. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 20.45 and a beta of 0.99. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $266.05.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The company had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million.

Institutional Investors Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MORN. Bamco Inc. NY bought a new position in Morningstar during the second quarter worth about $545,937,000. BlackRock Inc. bought a new stake in shares of Morningstar in the second quarter valued at approximately $324,792,000. Wellington Management Group LLP lifted its stake in shares of Morningstar by 85.4% during the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock valued at $246,910,000 after buying an additional 523,387 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Morningstar by 106.9% during the 3rd quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock valued at $141,119,000 after buying an additional 314,275 shares in the last quarter. Finally, Norges Bank bought a new position in Morningstar in the 4th quarter worth approximately $62,367,000. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MORN has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $212.00 price target on shares of Morningstar in a research report on Friday, June 26th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a research report on Thursday, June 18th. UBS Group decreased their price target on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings raised shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.33.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.