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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of Morningstar stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $241.67, for a total value of $1,752,107.50. Following the completion of the sale, the chairman directly owned 8,594,429 shares of the company’s stock, valued at approximately $2,077,015,656.43. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Morningstar stock opened at $244.25 on Thursday. The firm has a market capitalization of $9.06 billion, a P/E ratio of 18.98 and a beta of 0.91. The stock has a fifty day moving average price of $207.32 and a 200 day moving average price of $186.54. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $245.02. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.62.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, October 28th. The business services provider reported $3.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.44. The firm had revenue of $672.10 million for the quarter, compared to analyst estimates of $664.75 million. Morningstar had a return on equity of 45.17% and a net margin of 17.00%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. Weiss Ratings raised shares of Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, BMO Capital Markets upped their price target on shares of Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its position in Morningstar by 41.7% during the 3rd quarter. Covestor Ltd now owns 221 shares of the business services provider’s stock worth $42,000 after purchasing an additional 65 shares during the period. Signaturefd LLC raised its position in Morningstar by 12.8% in the third quarter. Signaturefd LLC now owns 662 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 75 shares during the period. IFP Advisors Inc raised its position in Morningstar by 27.9% in the third quarter. IFP Advisors Inc now owns 403 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 88 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Morningstar by 32.6% during the third quarter. Nisa Investment Advisors LLC now owns 403 shares of the business services provider’s stock worth $77,000 after purchasing an additional 99 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its stake in shares of Morningstar by 8.0% during the first quarter. Personal CFO Solutions LLC now owns 1,840 shares of the business services provider’s stock worth $311,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

About Morningstar

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.