Morningstar (NASDAQ:MORN) Chairman Sells $401,154.40 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 2,270 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $176.72, for a total transaction of $401,154.40. Following the completion of the sale, the chairman owned 8,043,492 shares of the company’s stock, valued at approximately $1,421,445,906.24. This represents a 0.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

NASDAQ MORN opened at $179.64 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50 day moving average price is $174.99 and its 200-day moving average price is $191.91. Morningstar, Inc. has a 52-week low of $149.08 and a 52-week high of $316.71. The company has a market cap of $6.83 billion, a PE ratio of 18.29 and a beta of 0.99.

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

Hedge Funds Weigh In On Morningstar

Large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Morningstar in the 4th quarter worth $25,000. Cassaday & Co Wealth Management LLC purchased a new position in Morningstar during the 1st quarter worth $26,000. Measured Wealth Private Client Group LLC purchased a new position in Morningstar during the 3rd quarter worth $26,000. Osterweis Capital Management Inc. acquired a new position in Morningstar during the 2nd quarter valued at about $29,000. Finally, V Square Quantitative Management LLC purchased a new stake in Morningstar in the fourth quarter valued at about $35,000. 57.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MORN shares. BMO Capital Markets reduced their price target on Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. UBS Group set a $280.00 price objective on Morningstar in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Weiss Ratings lowered shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, April 9th. Two equities 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, Morningstar has a consensus rating of “Hold” and a consensus target price of $236.50.

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.