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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $215.03, for a total transaction of $1,558,967.50. Following the sale, the chairman owned 8,646,304 shares of the company’s stock, valued at $1,859,214,749.12. This trade represents a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Morningstar Price Performance

Morningstar stock traded down $2.03 during trading hours on Friday, hitting $211.95. 247,060 shares of the stock were exchanged, compared to its average volume of 278,092. Morningstar, Inc. has a 12 month low of $202.89 and a 12 month high of $365.00. The business’s 50-day moving average is $226.91 and its two-hundred day moving average is $267.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $8.72 billion, a P/E ratio of 24.11 and a beta of 1.06.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets set a $250.00 price objective on shares of Morningstar in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Finally, UBS Group decreased their price objective on Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, October 30th. 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, Morningstar presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.00.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after purchasing an additional 34 shares in the last quarter. MAI Capital Management grew its position in Morningstar by 37.8% during the first quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock worth $46,000 after buying an additional 42 shares in the last quarter. Compound Planning Inc. increased its stake in Morningstar by 6.6% during the 1st quarter. Compound Planning Inc. now owns 777 shares of the business services provider’s stock worth $233,000 after acquiring an additional 48 shares during the period. Cardinal Capital Management raised its holdings in Morningstar by 0.3% in the 3rd quarter. Cardinal Capital Management now owns 13,902 shares of the business services provider’s stock valued at $3,225,000 after acquiring an additional 48 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Morningstar by 28.8% during the 2nd quarter. Blue Trust Inc. now owns 228 shares of the business services provider’s stock valued at $72,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.

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.