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 business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $233.06, for a total value of $1,689,685.00. Following the sale, the chairman owned 8,608,583 shares of the company’s stock, valued at approximately $2,006,316,353.98. This represents a 0.08% decrease in their ownership of the stock. The transaction 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 NASDAQ MORN traded up $7.54 during midday trading on Wednesday, hitting $244.25. 254,203 shares of the company’s stock traded hands, compared to its average volume of 453,532. The firm has a fifty day moving average of $206.74 and a 200 day moving average of $186.40. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year 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 market capitalization of $9.06 billion, a price-to-earnings ratio of 21.33 and a beta of 0.91.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data 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 company had revenue of $672.10 million for the quarter, compared to the consensus estimate of $664.75 million. Morningstar had a net margin of 17.00% and a return on equity of 45.17%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MORN. AlphaCore Capital LLC purchased a new position in shares of Morningstar during the 3rd quarter valued at about $274,000. Fulcrum Asset Management LLP increased its holdings in Morningstar by 4,626.3% in the 3rd quarter. Fulcrum Asset Management LLP now owns 898 shares of the business services provider’s stock worth $167,000 after acquiring an additional 879 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Morningstar by 326.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,275 shares of the business services provider’s stock worth $5,215,000 after acquiring an additional 20,882 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Morningstar in the 3rd quarter worth approximately $363,000. Finally, Chicago Partners Investment Group LLC increased its holdings in Morningstar by 11.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,074 shares of the business services provider’s stock worth $691,000 after acquiring an additional 306 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on MORN. Weiss Ratings upgraded shares of Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. UBS Group cut their price objective on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. BMO Capital Markets boosted their price objective on shares of Morningstar from $230.00 to $237.00 and gave the company an “outperform” rating in a research report on Tuesday, October 13th. Finally, Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.