Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 7,906 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,906 shares of Morningstar stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $210.26, for a total transaction of $1,662,315.56. Following the transaction, the chairman directly owned 7,960,570 shares of the company’s stock, valued at approximately $1,673,789,448.20. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

NASDAQ MORN traded up $4.92 during mid-day trading on Wednesday, reaching $213.65. 357,140 shares of the stock were exchanged, compared to its average volume of 513,496. The business’s 50 day moving average is $176.77 and its 200-day moving average is $176.20. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $266.05. The company has a market capitalization of $8.01 billion, a P/E ratio of 20.23 and a beta of 0.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.06 and a current ratio of 1.06.

Morningstar (NASDAQ:MORN) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, beating the consensus estimate of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The company had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Morningstar

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Morningstar by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock worth $53,000 after acquiring an additional 34 shares during the last quarter. Focus Partners Wealth grew its holdings in shares of Morningstar by 3.4% in the first quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock valued at $1,151,000 after purchasing an additional 126 shares during the period. Geneos Wealth Management Inc. increased its position in 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 during the last quarter. EverSource Wealth Advisors LLC raised its stake in 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 during the period. Finally, Qube Research & Technologies Ltd raised its stake in 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 during the period. Institutional investors and hedge funds 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.