Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 6,904 Shares of Company Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,904 shares of Morningstar stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $239.63, for a total value of $1,654,405.52. Following the completion of the transaction, the chairman directly owned 8,601,679 shares in the company, valued at $2,061,220,338.77. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Shares of MORN stock opened at $244.25 on Thursday. The company has a market capitalization of $9.06 billion, a P/E ratio of 18.98 and a beta of 0.91. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $245.02. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $207.32 and a two-hundred day moving average price of $186.54.

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

Institutional Investors Weigh In On Morningstar

A number of large investors have recently made changes to their positions in the business. Bamco Inc. NY bought a new position in shares of Morningstar during the second quarter valued at approximately $545,937,000. BlackRock Inc. bought a new stake in Morningstar in the second quarter valued at $324,792,000. Dimensional Fund Advisors LP boosted its holdings in Morningstar by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 517,769 shares of the business services provider’s stock valued at $87,514,000 after acquiring an additional 45,798 shares in the last quarter. Renaissance Technologies LLC increased its position in Morningstar by 38.6% during the 1st quarter. Renaissance Technologies LLC now owns 448,870 shares of the business services provider’s stock valued at $75,881,000 after purchasing an additional 125,100 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Morningstar by 38.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 394,931 shares of the business services provider’s stock valued at $66,763,000 after purchasing an additional 109,833 shares during the period. 57.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.