Joseph Mansueto Sells 4,095 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 4,095 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $216.75, for a total value of $887,591.25. Following the completion of the transaction, the chairman owned 7,943,851 shares of the company’s stock, valued at approximately $1,721,829,704.25. This represents a 0.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Down 0.7%

Shares of NASDAQ:MORN opened at $215.97 on Friday. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 20.45 and a beta of 0.99. The company has a 50 day moving average of $178.94 and a two-hundred day moving average of $176.67. Morningstar, Inc. has a 52-week low of $141.49 and a 52-week high of $266.05. 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 (NASDAQ:MORN) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.27. The business had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $649.72 million. Morningstar had a net margin of 16.43% and a return on equity of 38.57%.

Analyst Ratings Changes

A number of brokerages have commented on MORN. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. BMO Capital Markets restated an “outperform” rating and set a $212.00 target price on shares of Morningstar in a research note on Friday, June 26th. Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research report on Thursday, June 18th. 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, Weiss Ratings raised Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.33.

Institutional Trading of Morningstar

Institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Morningstar by 23.6% in 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 during the last quarter. Focus Partners Wealth lifted its position in shares of Morningstar by 3.4% during the first quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock worth $1,151,000 after purchasing an additional 126 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Morningstar by 278.2% during the first quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock worth $62,000 after purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Morningstar by 2,450.0% in the second quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider’s stock worth $176,000 after purchasing an additional 539 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Morningstar by 58.8% in the second quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider’s stock worth $43,615,000 after purchasing an additional 51,449 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

About Morningstar

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.