Joseph Mansueto Sells 7,250 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $171.57, for a total transaction of $1,243,882.50. Following the sale, the chairman owned 8,053,012 shares of the company’s stock, valued at $1,381,655,268.84. This trade represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

NASDAQ MORN traded up $0.74 during trading hours on Wednesday, reaching $172.55. 448,999 shares of the company were exchanged, compared to its average volume of 562,626. Morningstar, Inc. has a 1 year low of $149.08 and a 1 year high of $316.71. The business’s 50 day simple moving average is $175.57 and its 200-day simple moving average is $192.72. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $6.56 billion, a P/E ratio of 17.57 and a beta of 0.99.

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

Hedge Funds Weigh In On Morningstar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Morningstar by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 34 shares during the period. Focus Partners Wealth boosted its position in shares of Morningstar by 3.4% in the first quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider’s stock valued at $1,151,000 after acquiring an additional 126 shares during the period. Geneos Wealth Management Inc. lifted its position in Morningstar by 278.2% during the first quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider’s stock valued at $62,000 after purchasing an additional 153 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Morningstar by 2,450.0% during the second quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider’s stock valued at $176,000 after purchasing an additional 539 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Morningstar by 58.8% during the second quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider’s stock valued at $43,615,000 after purchasing an additional 51,449 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MORN shares. UBS Group set a $280.00 price objective on shares of Morningstar in a 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. BMO Capital Markets decreased their price objective on shares of Morningstar from $257.00 to $193.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Finally, Weiss Ratings downgraded shares of Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently 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.