Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells $1,409,467.50 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,594 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $213.75, for a total value of $1,409,467.50. Following the completion of the transaction, the chairman directly owned 7,955,196 shares of the company’s stock, valued at approximately $1,700,423,145. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Down 0.7%

Shares of Morningstar stock opened at $215.97 on Friday. The company has a market capitalization of $8.10 billion, a P/E 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. The business has a 50-day moving average of $178.94 and a two-hundred day moving average of $176.67. 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 data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating the consensus estimate of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The business had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $649.72 million.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Morningstar

Several institutional investors have recently bought and sold shares of the company. denkapparat Operations GmbH lifted its stake in Morningstar by 44.2% in the 2nd quarter. denkapparat Operations GmbH now owns 6,596 shares of the business services provider’s stock valued at $1,029,000 after acquiring an additional 2,022 shares in the last quarter. Nykredit A S bought a new position in shares of Morningstar during the 2nd quarter worth approximately $188,000. Keeler Thomas Management LLC grew its stake in shares of Morningstar by 14.3% during the 2nd quarter. Keeler Thomas Management LLC now owns 3,348 shares of the business services provider’s stock worth $522,000 after acquiring an additional 420 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Morningstar by 2.7% in the second quarter. Wedbush Securities Inc. now owns 6,031 shares of the business services provider’s stock valued at $941,000 after purchasing an additional 156 shares during the last quarter. Finally, Dearborn Partners LLC acquired a new stake in shares of Morningstar in the second quarter valued at approximately $1,321,000. Institutional investors own 57.02% of the company’s stock.

About Morningstar

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.