Joseph Mansueto Sells 6,969 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,969 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $213.32, for a total value of $1,486,627.08. Following the transaction, the chairman owned 8,632,487 shares of the company’s stock, valued at approximately $1,841,482,126.84. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Morningstar Price Performance

Shares of NASDAQ:MORN traded up $2.45 on Tuesday, hitting $209.85. The company’s stock had a trading volume of 344,292 shares, compared to its average volume of 278,287. The company has a market capitalization of $8.63 billion, a PE ratio of 23.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day simple moving average of $225.90 and a 200 day simple moving average of $266.82. Morningstar, Inc. has a 1 year low of $202.89 and a 1 year high of $365.00.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.13. The company had revenue of $617.40 million for the quarter, compared to analysts’ expectations of $603.29 million. Morningstar had a net margin of 15.70% and a return on equity of 24.68%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Osterweis Capital Management Inc. purchased a new stake in Morningstar during the 2nd quarter valued at about $29,000. Measured Wealth Private Client Group LLC bought a new stake in Morningstar in the 3rd quarter worth $26,000. IFP Advisors Inc raised its stake in shares of Morningstar by 270.3% during the second quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after acquiring an additional 100 shares during the last quarter. MAI Capital Management grew its stake in shares of Morningstar by 37.8% in the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after purchasing an additional 42 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Morningstar by 5,066.7% during the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 152 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

MORN has been the topic of several research reports. UBS Group lowered their price objective on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $250.00 target price on Morningstar in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $285.00.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.