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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $233.06, for a total transaction of $1,689,685.00. Following the transaction, the chairman owned 8,608,583 shares of the company’s stock, valued at approximately $2,006,316,353.98. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Up 3.2%

Shares of NASDAQ:MORN opened at $244.25 on Thursday. The company has a 50 day moving average price of $207.32 and a two-hundred day moving average price of $186.54. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $9.06 billion, a PE ratio of 18.98 and a beta of 0.91. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $245.02.

Morningstar (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 28th. The business services provider reported $3.48 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.44. Morningstar had a net margin of 17.00% and a return on equity of 45.17%. The company had revenue of $672.10 million for the quarter, compared to analysts’ expectations of $664.75 million.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MORN. Wall Street Zen upgraded Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Weiss Ratings upgraded Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. Finally, BMO Capital Markets increased their price target on Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Morningstar presently has a consensus rating of “Moderate Buy” and an average target price of $235.67.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MORN. Lido Advisors LLC acquired a new position in shares of Morningstar in the third quarter valued at approximately $305,000. AlphaCore Capital LLC acquired a new stake in shares of Morningstar during the third quarter worth $274,000. Fulcrum Asset Management LLP raised its holdings in shares of Morningstar by 4,626.3% during the third quarter. Fulcrum Asset Management LLP now owns 898 shares of the business services provider’s stock worth $167,000 after acquiring an additional 879 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Morningstar by 326.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,275 shares of the business services provider’s stock valued at $5,215,000 after acquiring an additional 20,882 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in Morningstar in the 3rd quarter valued at $363,000. Institutional investors own 57.02% of the company’s stock.

About Morningstar

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.