Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 1,286 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 1,286 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $213.12, for a total value of $274,072.32. Following the completion of the sale, the chairman directly owned 8,600,815 shares in the company, valued at approximately $1,833,005,692.80. The trade was a 0.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Morningstar Trading Up 0.1%

Shares of NASDAQ MORN opened at $213.72 on Thursday. Morningstar, Inc. has a twelve month low of $202.89 and a twelve month high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $220.14 and a 200-day simple moving average of $262.80. The stock has a market capitalization of $8.79 billion, a PE ratio of 24.31 and a beta of 1.06.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MORN. UBS Group cut their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Morningstar in a research report on Thursday, November 20th. Finally, BMO Capital Markets set a $250.00 price objective on Morningstar in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

Institutional Investors Weigh In On Morningstar

Several institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Morningstar by 34.8% in the third quarter. JPMorgan Chase & Co. now owns 318,478 shares of the business services provider’s stock valued at $73,891,000 after buying an additional 82,154 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Morningstar during the 3rd quarter worth about $972,000. Danske Bank A S acquired a new stake in shares of Morningstar during the 3rd quarter worth about $597,000. Caitong International Asset Management Co. Ltd lifted its stake in Morningstar by 1,106.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 386 shares of the business services provider’s stock worth $90,000 after purchasing an additional 354 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in Morningstar in the third quarter valued at approximately $5,860,000. 57.02% of the stock is owned by hedge funds and other institutional investors.

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.