Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 6,848 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,848 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $215.30, for a total value of $1,474,374.40. Following the sale, the chairman owned 8,639,456 shares of the company’s stock, valued at $1,860,074,876.80. This trade 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 can be accessed through this link.

Morningstar Stock Performance

Shares of MORN traded down $2.03 during trading hours on Friday, reaching $211.95. 247,060 shares of the company traded hands, compared to its average volume of 278,092. The business has a fifty day moving average price of $226.91 and a 200-day moving average price of $267.58. The stock has a market capitalization of $8.72 billion, a P/E ratio of 24.11 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.52. Morningstar, Inc. has a 12-month low of $202.89 and a 12-month high of $365.00.

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

Institutional Trading of Morningstar

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Morningstar by 1.9% during the second quarter. Geode Capital Management LLC now owns 626,941 shares of the business services provider’s stock valued at $196,839,000 after acquiring an additional 11,408 shares during the period. AQR Capital Management LLC increased its holdings in shares of Morningstar by 106.9% during the third quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider’s stock worth $141,119,000 after buying an additional 314,275 shares in the last quarter. Millennium Management LLC raised its stake in shares of Morningstar by 88.0% in the first quarter. Millennium Management LLC now owns 540,795 shares of the business services provider’s stock valued at $162,168,000 after acquiring an additional 253,137 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Morningstar by 26.7% in the third quarter. Dimensional Fund Advisors LP now owns 420,127 shares of the business services provider’s stock worth $97,482,000 after purchasing an additional 88,496 shares in the last quarter. Finally, Liontrust Investment Partners LLP grew its holdings in shares of Morningstar by 21.3% during the second quarter. Liontrust Investment Partners LLP now owns 391,816 shares of the business services provider’s stock worth $123,003,000 after purchasing an additional 68,896 shares during the last quarter. Institutional investors and hedge funds own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. UBS Group lowered their price objective on shares of Morningstar from $350.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Morningstar in a report on Wednesday, October 8th. Finally, BMO Capital Markets set a $250.00 target price on Morningstar in a report on Thursday, October 30th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Morningstar presently has a consensus rating of “Moderate Buy” and an average target price of $285.00.

About Morningstar

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.