Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells $1,238,415.56 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 5,659 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $218.84, for a total value of $1,238,415.56. Following the completion of the sale, the chairman directly owned 7,938,192 shares of the company’s stock, valued at approximately $1,737,193,937.28. The trade was a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

Shares of MORN opened at $212.44 on Thursday. The business has a 50-day moving average of $181.64 and a 200-day moving average of $177.33. 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 $7.97 billion, a price-to-earnings ratio of 20.12 and a beta of 0.99. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $265.73.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new position in shares of Morningstar during the second quarter worth approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new stake in Morningstar in the 1st quarter valued at $26,000. Measured Wealth Private Client Group LLC acquired a new stake in Morningstar in the 3rd quarter valued at $26,000. Osterweis Capital Management Inc. bought a new stake in Morningstar during the 2nd quarter valued at $29,000. Finally, Quarry LP increased its stake in Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 64 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MORN shares. Weiss Ratings upgraded shares of Morningstar from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research report on Thursday, June 18th. UBS Group decreased their price target on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. BMO Capital Markets reissued an “outperform” rating and issued a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. Finally, Wall Street Zen raised Morningstar from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $227.33.

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.