Insider Selling: Morningstar (NASDAQ:MORN) Chairman 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 that occurred on Thursday, November 20th. The shares were sold at an average price of $210.89, for a total transaction of $1,528,952.50. Following the sale, the chairman owned 8,609,667 shares of the company’s stock, valued at $1,815,692,673.63. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Morningstar Stock Performance

MORN traded down $2.66 during trading on Monday, hitting $210.18. The company’s stock had a trading volume of 322,769 shares, compared to its average volume of 278,791. The business’s 50 day simple moving average is $222.28 and its 200-day simple moving average is $264.45. The firm has a market cap of $8.64 billion, a PE ratio of 23.91 and a beta of 1.06. Morningstar, Inc. has a one year low of $202.89 and a one year high of $365.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52.

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

Analysts Set New Price Targets

MORN has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Morningstar in a research note on Thursday. BMO Capital Markets set a $250.00 price target on shares of Morningstar in a report on Thursday, October 30th. Finally, UBS Group decreased 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. Two research 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 a consensus rating of “Moderate Buy” and an average price target of $285.00.

Institutional Trading of Morningstar

Several hedge funds have recently bought and sold shares of the stock. CIBC Bancorp USA Inc. bought a new stake in shares of Morningstar in the third quarter worth about $972,000. Danske Bank A S bought a new stake in Morningstar in the 3rd quarter worth approximately $597,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Morningstar by 1,106.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 386 shares of the business services provider’s stock worth $90,000 after acquiring an additional 354 shares in the last quarter. Dark Forest Capital Management LP purchased a new stake in Morningstar during the third quarter valued at $5,860,000. Finally, United Capital Financial Advisors LLC increased its holdings in shares of Morningstar by 1.8% in the 3rd quarter. United Capital Financial Advisors LLC now owns 25,361 shares of the business services provider’s stock worth $5,884,000 after buying an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Morningstar Company Profile

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.