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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $214.16, for a total transaction of $1,552,660.00. Following the sale, the chairman directly owned 7,947,946 shares in the company, valued at $1,702,132,115.36. The trade was a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

Morningstar stock opened at $215.97 on Friday. The firm has a market capitalization of $8.10 billion, a P/E ratio of 20.45 and a beta of 0.99. Morningstar, Inc. has a one year low of $141.49 and a one year high of $266.05. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. The business has a fifty day moving average price of $178.94 and a 200-day moving average price of $176.67.

Morningstar (NASDAQ:MORN) last released 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. The company had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.

Institutional Trading of Morningstar

A number of large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Morningstar by 23.6% in the first 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. WPG Advisers LLC lifted its position in Morningstar by 36.0% during the fourth quarter. WPG Advisers LLC now owns 185 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 49 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Morningstar by 3.9% in the fourth quarter. Verdence Capital Advisors LLC now owns 1,423 shares of the business services provider’s stock worth $309,000 after acquiring an additional 54 shares in the last quarter. Quarry LP boosted its holdings in shares of Morningstar by 51.2% in the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock worth $41,000 after purchasing an additional 64 shares in the last quarter. Finally, Diversify Advisory Services LLC boosted its stake in Morningstar by 4.7% in the third quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider’s stock worth $350,000 after buying an additional 74 shares in the last quarter. Institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MORN shares. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research note on Thursday, June 18th. UBS Group decreased their target price on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. BMO Capital Markets reissued an “outperform” rating and issued a $212.00 price target on shares of Morningstar in a report on Friday, June 26th. Finally, Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Morningstar has an average rating of “Moderate Buy” and an average target price of $227.33.

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.