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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $206.88, for a total value of $1,499,880.00. Following the transaction, the chairman directly owned 7,976,946 shares in the company, valued at $1,650,270,588.48. This trade represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Up 0.3%

NASDAQ MORN opened at $207.41 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $266.05. The business has a 50 day moving average price of $175.79 and a two-hundred day moving average price of $176.39. The stock has a market cap of $7.78 billion, a PE ratio of 19.64 and a beta of 0.99.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The company had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million.

Institutional Trading of Morningstar

Several hedge funds and other institutional investors have recently bought and sold shares of MORN. Jupiter Topco LLC bought a new position in Morningstar during the 2nd quarter worth approximately $14,263,000. Hsbc Holdings PLC bought a new stake in shares of Morningstar in the 2nd quarter valued at approximately $364,000. Canada Pension Plan Investment Board acquired a new stake in shares of Morningstar during the 2nd quarter valued at approximately $7,910,000. Legal & General Group Plc acquired a new stake in shares of Morningstar during the 2nd quarter valued at approximately $4,278,000. Finally, The Manufacturers Life Insurance Company bought a new position in Morningstar during the second quarter worth $2,472,000. 57.02% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MORN has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. BMO Capital Markets reaffirmed an “outperform” rating and set a $212.00 target price on shares of Morningstar in a research report on Friday, June 26th. UBS Group cut their price target on Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, July 7th. Finally, Rothschild & Co Redburn set a $210.00 price target on Morningstar in a report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $227.33.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.