Morningstar (NASDAQ:MORN) Chairman Sells $1,199,804.24 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,728 shares of Morningstar stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $178.33, for a total value of $1,199,804.24. Following the completion of the sale, the chairman directly owned 8,060,262 shares of the company’s stock, valued at approximately $1,437,386,522.46. This represents a 0.08% 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

Shares of NASDAQ:MORN opened at $179.64 on Friday. The company has a market cap of $6.83 billion, a P/E ratio of 18.29 and a beta of 0.99. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 52 week low of $149.08 and a 52 week high of $316.71. The business has a fifty day simple moving average of $174.99 and a 200-day simple moving average of $192.06.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.77. The business had revenue of $644.80 million during the quarter, compared to the consensus estimate of $626.91 million. Morningstar had a return on equity of 33.14% and a net margin of 16.06%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Morningstar by 23.6% during 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 in the last quarter. Focus Partners Wealth lifted its stake 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 in the last quarter. Geneos Wealth Management Inc. lifted its stake 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Morningstar by 2,450.0% during 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 lifted its stake in shares of Morningstar by 58.8% during 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. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analysts Set New Price Targets

MORN has been the subject of a number of research reports. UBS Group set a $280.00 price target on Morningstar in a research report on Friday, February 13th. Weiss Ratings downgraded Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. BMO Capital Markets lowered their price target on Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Finally, Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Morningstar presently has an average rating of “Hold” and an average target price of $236.50.

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.