Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 5,659 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $218.84, for a total transaction of $1,238,415.56. Following the completion of the transaction, the chairman owned 7,938,192 shares in the company, valued at approximately $1,737,193,937.28. The trade was a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Price Performance
NASDAQ MORN opened at $217.50 on Tuesday. The stock has a market cap of $8.16 billion, a price-to-earnings ratio of 20.60 and a beta of 0.99. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $265.73. The company has a 50-day moving average price of $179.83 and a two-hundred day moving average price of $176.78.
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 the consensus estimate of $2.83 by $0.27. The company had revenue of $663.20 million for the quarter, compared to analyst estimates 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 have recently added to or reduced their stakes in MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Morningstar by 23.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Morningstar by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,423 shares of the business services provider's stock valued at $309,000 after buying an additional 54 shares during the period. Quarry LP increased its holdings in shares of Morningstar by 51.2% during the 4th quarter. Quarry LP now owns 189 shares of the business services provider's stock valued at $41,000 after purchasing an additional 64 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in shares of Morningstar by 4.7% in the 3rd quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider's stock valued at $350,000 after purchasing an additional 74 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its holdings in Morningstar by 2.0% in the 4th quarter. Diversify Wealth Management LLC now owns 4,168 shares of the business services provider's stock valued at $900,000 after purchasing an additional 82 shares in the last quarter. 57.02% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently issued reports on MORN. BMO Capital Markets reaffirmed an "outperform" rating and set a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. Weiss Ratings upgraded Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 14th. UBS Group lowered their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Finally, Rothschild & Co Redburn set a $210.00 target price on Morningstar in a research note on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Morningstar presently has a consensus rating of "Moderate Buy" and an average price target of $227.33.
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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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