Morningstar (NASDAQ:MORN) Chairman Sells $1,654,405.52 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,904 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $239.63, for a total transaction of $1,654,405.52. Following the completion of the transaction, the chairman owned 8,601,679 shares of the company’s stock, valued at $2,061,220,338.77. This represents a 0.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Shares of MORN stock traded up $7.54 during mid-day trading on Wednesday, hitting $244.25. 254,203 shares of the stock were exchanged, compared to its average volume of 453,532. The stock’s fifty day simple moving average is $206.74 and its two-hundred day simple moving average is $186.40. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 21.33 and a beta of 0.91. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $245.02. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.05 and a current ratio of 1.05.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AlphaCore Capital LLC purchased a new stake in shares of Morningstar in the third quarter valued at about $274,000. Fulcrum Asset Management LLP boosted its stake in shares of Morningstar by 4,626.3% during the third quarter. Fulcrum Asset Management LLP now owns 898 shares of the business services provider’s stock worth $167,000 after buying an additional 879 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Morningstar by 326.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 27,275 shares of the business services provider’s stock worth $5,215,000 after buying an additional 20,882 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Morningstar during the third quarter worth about $363,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of 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 during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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