Morningstar (NASDAQ:MORN) Chairman Sells $1,529,967.50 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $211.03, for a total value of $1,529,967.50. Following the sale, the chairman directly owned 8,679,397 shares of the company’s stock, valued at approximately $1,831,613,148.91. This represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Morningstar Trading Up 1.8%

Shares of NASDAQ:MORN traded up $3.85 during mid-day trading on Friday, hitting $215.49. The stock had a trading volume of 613,977 shares, compared to its average volume of 277,982. Morningstar, Inc. has a 12-month low of $202.89 and a 12-month high of $365.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $8.86 billion, a PE ratio of 24.52 and a beta of 1.06. The company’s 50 day moving average is $232.20 and its 200-day moving average is $270.12.

Morningstar (NASDAQ:MORN) last issued its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.13. The business had revenue of $617.40 million for the quarter, compared to the consensus estimate of $603.29 million. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new position in shares of Morningstar during the first quarter worth approximately $25,000. Osterweis Capital Management Inc. acquired a new position in Morningstar during the 2nd quarter valued at $29,000. IFP Advisors Inc boosted its holdings in Morningstar by 270.3% in the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after purchasing an additional 100 shares during the period. MAI Capital Management boosted its holdings in Morningstar by 37.8% in the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 42 shares during the period. Finally, Larson Financial Group LLC grew its position in Morningstar by 5,066.7% in the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock worth $46,000 after purchasing an additional 152 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group decreased their target price on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Morningstar in a research note on Wednesday, October 8th. Finally, BMO Capital Markets set a $250.00 target price on shares of Morningstar in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.00.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.