Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto 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 dated Wednesday, November 4th. The stock was sold at an average price of $241.67, for a total transaction of $1,752,107.50. Following the sale, the chairman owned 8,594,429 shares of the company’s stock, valued at approximately $2,077,015,656.43. This represents a 0.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Morningstar stock traded up $7.54 during trading hours on Wednesday, hitting $244.25. The company had a trading volume of 254,203 shares, compared to its average volume of 453,532. The firm has a 50-day moving average of $206.74 and a 200 day moving average of $186.40. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $9.06 billion, a PE ratio of 21.33 and a beta of 0.91. Morningstar, Inc. has a one year low of $141.49 and a one year high of $245.02.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, October 28th. The business services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.44. The company had revenue of $672.10 million for the quarter, compared to analyst estimates of $664.75 million. Morningstar had a return on equity of 45.17% and a net margin of 17.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. AlphaCore Capital LLC acquired a new stake in shares of Morningstar in the third quarter valued at approximately $274,000. Fulcrum Asset Management LLP boosted its stake in shares of Morningstar by 4,626.3% in the third quarter. Fulcrum Asset Management LLP now owns 898 shares of the business services provider’s stock valued at $167,000 after buying an additional 879 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Morningstar by 326.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 27,275 shares of the business services provider’s stock valued at $5,215,000 after buying an additional 20,882 shares during the period. Kestra Advisory Services LLC acquired a new stake in Morningstar during the third quarter worth approximately $363,000. Finally, Chicago Partners Investment Group LLC grew its position in Morningstar by 11.1% during the third quarter. Chicago Partners Investment Group LLC now owns 3,074 shares of the business services provider’s stock worth $691,000 after buying an additional 306 shares in the last quarter. 57.02% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MORN shares. UBS Group lowered their price objective on Morningstar from $280.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, July 7th. BMO Capital Markets lifted their target price on Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Weiss Ratings raised shares of Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. Finally, Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a research note on Saturday, September 26th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.67.

Morningstar Company Profile

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.