Joseph Mansueto Sells 2,272 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 2,272 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $198.38, for a total transaction of $450,719.36. Following the completion of the sale, the chairman owned 8,014,170 shares of the company’s stock, valued at $1,589,851,044.60. This trade represents a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Shares of NASDAQ:MORN opened at $200.66 on Friday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 12 month low of $141.49 and a 12 month high of $266.05. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 19.00 and a beta of 0.99. The firm’s 50-day moving average is $174.25 and its 200 day moving average is $176.72.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping 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 business had revenue of $663.20 million during the quarter, compared to the consensus estimate of $649.72 million.

Hedge Funds Weigh In On Morningstar

A number of hedge funds and other institutional investors have recently made changes to their positions in MORN. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Morningstar in the fourth quarter worth about $25,000. Grove Bank & Trust purchased a new position in Morningstar during the 2nd quarter valued at about $25,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of Morningstar in the 1st quarter valued at about $26,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Morningstar in the 3rd quarter valued at about $26,000. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Morningstar in the 2nd quarter worth approximately $29,000. Institutional investors own 57.02% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MORN shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. UBS Group cut their price target on shares of Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a 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, Weiss Ratings lowered shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.