Insider Selling: Morningstar (NASDAQ:MORN) Chairman Sells $1,558,967.50 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the company’s stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $215.03, for a total transaction of $1,558,967.50. Following the completion of the sale, the chairman directly owned 8,646,304 shares in the company, valued at $1,859,214,749.12. This trade represents a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Morningstar Trading Down 0.9%

Shares of Morningstar stock opened at $211.95 on Monday. The stock has a market cap of $8.72 billion, a PE ratio of 24.11 and a beta of 1.06. The firm has a fifty day moving average price of $226.91 and a 200 day moving average price of $267.36. Morningstar, Inc. has a 1 year low of $202.89 and a 1 year high of $365.00. 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 (NASDAQ:MORN) last announced its quarterly earnings results on Wednesday, October 29th. The business services provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.42 by $0.13. The company had revenue of $617.40 million for the quarter, compared to the consensus estimate of $603.29 million. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Osterweis Capital Management Inc. acquired a new stake in shares of Morningstar in the second quarter valued at approximately $29,000. Quent Capital LLC purchased a new stake in shares of Morningstar in the 3rd quarter valued at approximately $38,000. Clearstead Advisors LLC increased its holdings in shares of Morningstar by 54.2% during the 3rd quarter. Clearstead Advisors LLC now owns 165 shares of the business services provider’s stock worth $38,000 after buying an additional 58 shares during the last quarter. IFP Advisors Inc raised its position in shares of Morningstar by 270.3% during the 2nd quarter. IFP Advisors Inc now owns 137 shares of the business services provider’s stock valued at $43,000 after buying an additional 100 shares during the period. Finally, Larson Financial Group LLC raised its position in shares of Morningstar by 5,066.7% during the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider’s stock valued at $46,000 after buying an additional 152 shares during the period. 57.02% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Morningstar in a report on Wednesday, October 8th. UBS Group decreased their target price on shares of 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 target on shares of Morningstar in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Morningstar has a consensus rating of “Moderate Buy” and an average target price 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.