Morningstar (NASDAQ:MORN) Chairman Sells $1,457,685.00 in Stock

by · The Markets Daily

Morningstar, Inc. (NASDAQ:MORN – Get Free Report) Chairman Joseph Mansueto sold 7,250 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $201.06, for a total transaction of $1,457,685.00. Following the sale, the chairman owned 8,016,442 shares of the company’s stock, valued at approximately $1,611,785,828.52. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

MORN stock opened at $200.66 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $266.05. The company has a market cap of $7.53 billion, a P/E ratio of 19.00 and a beta of 0.99. The stock’s fifty day moving average price is $174.25 and its 200-day moving average price is $176.72.

Morningstar (NASDAQ:MORN – Get Free Report) last posted its earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, beating analysts’ consensus estimates of $2.83 by $0.27. The company had revenue of $663.20 million for the quarter, compared to the consensus estimate of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.

Institutional Investors Weigh In On Morningstar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MORN. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Morningstar in the fourth quarter worth $25,000. Grove Bank & Trust bought a new stake in shares of Morningstar during the 2nd quarter valued at $25,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Morningstar during the 1st quarter valued at $26,000. Measured Wealth Private Client Group LLC bought a new position in Morningstar in the 3rd quarter worth $26,000. Finally, Osterweis Capital Management Inc. bought a new position in Morningstar in the 2nd quarter worth $29,000. Institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MORN shares. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a report on Thursday, June 18th. Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. BMO Capital Markets restated an “outperform” rating and issued a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. UBS Group reduced their price objective on Morningstar from $280.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $227.33.

View Our Latest Report on Morningstar

About Morningstar

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Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.

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