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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of Morningstar stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $167.99, for a total transaction of $1,217,927.50. Following the transaction, the chairman owned 8,081,490 shares in the company, valued at $1,357,609,505.10. This represents a 0.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

Shares of MORN stock traded up $3.99 on Friday, hitting $170.04. 559,125 shares of the stock traded hands, compared to its average volume of 563,143. The firm has a market cap of $6.47 billion, a price-to-earnings ratio of 17.32 and a beta of 0.99. Morningstar, Inc. has a 52 week low of $149.08 and a 52 week high of $316.71. The firm has a 50 day simple moving average of $176.53 and a two-hundred day simple moving average of $193.61. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.03 and a quick ratio of 1.03.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating the consensus estimate of $2.41 by $0.77. The firm had revenue of $644.80 million for the quarter, compared to the consensus estimate of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

Wall Street Analysts Forecast Growth

MORN has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. UBS Group set a $280.00 price objective on shares of Morningstar in a research report on Friday, February 13th. Weiss Ratings downgraded shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Finally, BMO Capital Markets decreased their price objective on shares of Morningstar from $257.00 to $193.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $236.50.

Institutional Trading of Morningstar

A number of institutional investors and hedge funds have recently bought and sold shares of MORN. Wellington Management Group LLP increased its holdings in Morningstar by 85.4% in the 4th quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider’s stock valued at $246,910,000 after acquiring an additional 523,387 shares during the last quarter. AQR Capital Management LLC increased its holdings in Morningstar by 106.9% in the 3rd quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock valued at $141,119,000 after acquiring an additional 314,275 shares during the last quarter. Norges Bank bought a new stake in Morningstar in the 4th quarter valued at $62,367,000. Corient Private Wealth LLC increased its holdings in Morningstar by 1,196.5% in the 4th quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider’s stock valued at $56,713,000 after acquiring an additional 240,848 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its holdings in Morningstar by 362.8% in the 3rd quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider’s stock valued at $43,416,000 after acquiring an additional 146,693 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors.

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.