Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells 7,250 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $211.03, for a total value of $1,529,967.50. Following the completion of the sale, the chairman owned 8,679,397 shares of the company’s stock, valued at $1,831,613,148.91. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Morningstar Stock Performance

Shares of MORN traded up $3.85 on Friday, reaching $215.49. 613,977 shares of the stock traded hands, compared to its average volume of 277,982. The stock’s 50-day moving average price is $232.20 and its 200-day moving average price is $270.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 24.52 and a beta of 1.06. Morningstar, Inc. has a 12 month low of $202.89 and a 12 month high of $365.00.

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

Hedge Funds Weigh In On Morningstar

Several institutional investors have recently added to or reduced their stakes in MORN. Hughes Financial Services LLC acquired a new stake in shares of Morningstar during the first quarter worth approximately $25,000. Osterweis Capital Management Inc. acquired a new position in shares of Morningstar in the 2nd quarter worth approximately $29,000. Quent Capital LLC bought a new stake in Morningstar during the 3rd quarter worth approximately $38,000. IFP Advisors Inc increased its holdings 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 in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Morningstar by 5,066.7% during the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 152 shares in the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MORN. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a research report on Wednesday, October 8th. UBS Group decreased their price objective on Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, BMO Capital Markets set a $250.00 price objective on Morningstar in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Morningstar presently has an average rating of “Moderate Buy” and an average price target of $285.00.

Morningstar Company Profile

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.