Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells 3,532 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 3,532 shares of Morningstar stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.52, for a total transaction of $920,156.64. Following the completion of the transaction, the chairman owned 9,319,541 shares of the company’s stock, valued at $2,427,926,821.32. This trade represents a 0.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Morningstar Price Performance

Morningstar stock opened at $261.26 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 52-week low of $250.34 and a 52-week high of $365.00. The firm has a market cap of $11.02 billion, a PE ratio of 27.82 and a beta of 0.96. The company’s 50 day moving average is $282.15 and its two-hundred day moving average is $292.64.

Morningstar (NASDAQ:MORN) last posted its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.19. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million. Morningstar had a return on equity of 23.54% and a net margin of 17.22%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded Morningstar from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. BMO Capital Markets boosted their price objective on Morningstar from $339.00 to $355.00 and gave the stock an “outperform” rating in a research report on Monday, May 12th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Morningstar presently has a consensus rating of “Moderate Buy” and an average price target of $361.67.

Institutional Trading of Morningstar

A number of institutional investors have recently bought and sold shares of MORN. Geode Capital Management LLC increased its holdings in shares of Morningstar by 1.9% in the 2nd quarter. Geode Capital Management LLC now owns 626,941 shares of the business services provider’s stock valued at $196,839,000 after acquiring an additional 11,408 shares during the last quarter. Millennium Management LLC lifted its stake in Morningstar by 88.0% during the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock worth $162,168,000 after purchasing an additional 253,137 shares during the last quarter. Liontrust Investment Partners LLP boosted its holdings in Morningstar by 21.3% in the second quarter. Liontrust Investment Partners LLP now owns 391,816 shares of the business services provider’s stock valued at $123,003,000 after purchasing an additional 68,896 shares in the last quarter. Norges Bank purchased a new position in Morningstar in the second quarter valued at approximately $93,224,000. Finally, AQR Capital Management LLC raised its holdings in Morningstar by 691.0% during the second quarter. AQR Capital Management LLC now owns 293,969 shares of the business services provider’s stock worth $92,286,000 after purchasing an additional 256,806 shares in the last quarter. 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.