Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 5,659 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 5,659 shares of Morningstar stock in a transaction on Monday, August 24th. The shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the completion of the transaction, the chairman owned 7,938,192 shares of the company’s stock, valued at approximately $1,737,193,937.28. The trade was a 0.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Shares of MORN stock opened at $217.50 on Tuesday. The company has a market capitalization of $8.16 billion, a P/E ratio of 20.60 and a beta of 0.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $265.73. The company’s 50 day moving average price is $179.83 and its two-hundred day moving average price is $176.78.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on MORN shares. BMO Capital Markets reiterated an “outperform” rating and issued a $212.00 target price on shares of Morningstar in a report on Friday, June 26th. Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Weiss Ratings upgraded Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. 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, Rothschild & Co Redburn set a $210.00 price objective on Morningstar in a research report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Morningstar currently has an average rating of “Moderate Buy” and an average target price of $227.33.

Institutional Trading of Morningstar

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grove Bank & Trust acquired a new position in shares of Morningstar in the second quarter valued at about $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Morningstar in the 1st quarter worth about $26,000. Measured Wealth Private Client Group LLC purchased a new stake in Morningstar during the 3rd quarter worth approximately $26,000. Osterweis Capital Management Inc. purchased a new stake in Morningstar during the 2nd quarter worth approximately $29,000. Finally, Quarry LP lifted its stake in Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock worth $41,000 after acquiring an additional 64 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

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.