Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells $1,486,627.08 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,969 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $213.32, for a total value of $1,486,627.08. Following the sale, the chairman directly owned 8,632,487 shares in the company, valued at approximately $1,841,482,126.84. The trade was a 0.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Morningstar Stock Performance

Shares of NASDAQ MORN opened at $209.22 on Friday. Morningstar, Inc. has a 1 year low of $202.89 and a 1 year high of $365.00. The firm has a market cap of $8.61 billion, a P/E ratio of 23.80 and a beta of 1.06. The stock has a fifty day moving average price of $223.17 and a two-hundred day moving average price of $265.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.13. The company had revenue of $617.40 million for the quarter, compared to the consensus estimate of $603.29 million. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.

Wall Street Analysts Forecast Growth

MORN has been the subject of a number of research analyst reports. BMO Capital Markets set a $250.00 price target on shares of Morningstar in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a report on Wednesday, October 8th. Finally, UBS Group reduced their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Morningstar has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Institutional Trading of Morningstar

Hedge funds have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC purchased a new position in shares of Morningstar in the third quarter worth approximately $26,000. Osterweis Capital Management Inc. acquired a new position in Morningstar in the 2nd quarter worth approximately $29,000. Quent Capital LLC acquired a new position in Morningstar in the 3rd quarter worth approximately $38,000. Clearstead Advisors LLC grew its position in Morningstar by 54.2% during the 3rd quarter. Clearstead Advisors LLC now owns 165 shares of the business services provider’s stock worth $38,000 after purchasing an additional 58 shares in the last quarter. Finally, IFP Advisors Inc raised its stake in Morningstar by 270.3% during the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 100 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

About Morningstar

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.