Joseph Mansueto Sells 7,250 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $201.06, for a total value of $1,457,685.00. Following the transaction, the chairman directly owned 8,016,442 shares in the company, valued at approximately $1,611,785,828.52. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

Shares of MORN opened at $196.57 on Friday. The business’s 50-day moving average is $173.88 and its 200-day moving average is $176.55. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 18.61 and a beta of 0.99. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $266.05.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Focus Partners Wealth lifted its position in shares of Morningstar by 3.4% during the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock worth $1,151,000 after purchasing an additional 126 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Morningstar by 278.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock valued at $62,000 after buying an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Morningstar by 2,450.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider’s stock valued at $176,000 after buying an additional 539 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Morningstar by 58.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider’s stock worth $43,615,000 after buying an additional 51,449 shares during the period. Institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on MORN shares. Weiss Ratings downgraded shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, July 30th. BMO Capital Markets reissued an “outperform” rating and set a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research note on Thursday, June 18th. Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, UBS Group lowered their price target on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Morningstar has an average rating of “Hold” and an average target price of $227.33.

About Morningstar

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.