Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells 1,070 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 1,070 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $211.12, for a total value of $225,898.40. Following the completion of the sale, the chairman owned 8,631,417 shares of the company’s stock, valued at $1,822,264,757.04. This trade represents a 0.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Morningstar Stock Performance

MORN stock traded up $2.45 during trading hours on Tuesday, hitting $209.85. 344,292 shares of the stock were exchanged, compared to its average volume of 278,287. Morningstar, Inc. has a 12 month low of $202.89 and a 12 month high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company has a 50-day simple moving average of $225.90 and a two-hundred day simple moving average of $266.82. The firm has a market capitalization of $8.63 billion, a P/E ratio of 23.87 and a beta of 1.06.

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

Hedge Funds Weigh In On Morningstar

A number of institutional investors have recently added to or reduced their stakes in MORN. Nordea Investment Management AB boosted its stake in shares of Morningstar by 3.0% during the second quarter. Nordea Investment Management AB now owns 60,181 shares of the business services provider’s stock valued at $18,801,000 after purchasing an additional 1,755 shares in the last quarter. Voya Investment Management LLC raised its holdings in Morningstar by 9.1% in the 1st quarter. Voya Investment Management LLC now owns 12,940 shares of the business services provider’s stock valued at $3,880,000 after buying an additional 1,081 shares during the last quarter. Brighton Jones LLC bought a new position in Morningstar in the 2nd quarter valued at approximately $373,000. Wealth Enhancement Advisory Services LLC boosted its position in Morningstar by 90.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,425 shares of the business services provider’s stock worth $1,066,000 after buying an additional 1,623 shares during the period. Finally, Royal Bank of Canada grew its holdings in Morningstar by 106.8% during the 1st quarter. Royal Bank of Canada now owns 37,089 shares of the business services provider’s stock worth $11,121,000 after acquiring an additional 19,155 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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