Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 6,969 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,969 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $213.32, for a total transaction of $1,486,627.08. Following the completion of the sale, the chairman directly owned 8,632,487 shares in the company, valued at $1,841,482,126.84. This represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Morningstar Stock Up 1.2%

NASDAQ MORN traded up $2.45 during trading hours on Tuesday, reaching $209.85. 344,292 shares of the company’s stock traded hands, compared to its average volume of 278,287. The firm has a market cap of $8.63 billion, a PE ratio of 23.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.13 and a quick ratio of 1.13. Morningstar, Inc. has a 52-week low of $202.89 and a 52-week high of $365.00. The firm has a 50-day simple moving average of $225.90 and a 200 day simple moving average of $266.82.

Morningstar (NASDAQ:MORN) last announced its 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. Morningstar had a net margin of 15.70% and a return on equity of 24.68%. The business had revenue of $617.40 million during the quarter, compared to the consensus estimate of $603.29 million.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Measured Wealth Private Client Group LLC bought a new stake in shares of Morningstar during the 3rd quarter valued at about $26,000. Osterweis Capital Management Inc. bought a new stake in Morningstar during the second quarter valued at approximately $29,000. Quent Capital LLC purchased a new stake in Morningstar during the third quarter valued at approximately $38,000. Clearstead Advisors LLC increased its holdings in Morningstar by 54.2% during the third quarter. Clearstead Advisors LLC now owns 165 shares of the business services provider’s stock valued at $38,000 after buying an additional 58 shares during the last quarter. Finally, IFP Advisors Inc raised its position in Morningstar by 270.3% in the second quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock worth $43,000 after acquiring an additional 100 shares during the period. Institutional investors own 57.02% of the company’s stock.

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.