Joseph Mansueto Sells 5,659 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 5,659 shares of Morningstar stock in a transaction on Monday, August 24th. The shares were sold at an average price of $218.84, for a total transaction of $1,238,415.56. Following the transaction, the chairman owned 7,938,192 shares in the company, valued at $1,737,193,937.28. The trade was a 0.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Down 1.1%

Shares of NASDAQ MORN opened at $215.01 on Wednesday. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $265.73. The company has a market cap of $8.07 billion, a P/E ratio of 20.36 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average price of $180.68 and a 200 day moving average price of $177.02.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings data 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. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The company had revenue of $663.20 million for the quarter, compared to analysts’ expectations of $649.72 million.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System increased its holdings in Morningstar by 12,070.7% during the 2nd quarter. California State Teachers Retirement System now owns 3,580,971 shares of the business services provider’s stock worth $558,703,000 after purchasing an additional 3,551,548 shares during the last quarter. Bamco Inc. NY purchased a new position in shares of Morningstar during the 2nd quarter valued at approximately $545,937,000. BlackRock Inc. acquired a new stake in shares of Morningstar during the second quarter worth approximately $324,792,000. Morgan Stanley grew its position in shares of Morningstar by 2.4% during the fourth quarter. Morgan Stanley now owns 2,006,325 shares of the business services provider’s stock worth $435,995,000 after buying an additional 47,360 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Morningstar by 85.4% in the fourth quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock worth $246,910,000 after buying an additional 523,387 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

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.