Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 6,904 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $239.63, for a total transaction of $1,654,405.52. Following the completion of the sale, the chairman owned 8,601,679 shares of the company's stock, valued at $2,061,220,338.77. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Stock Performance
Morningstar stock opened at $244.25 on Thursday. The stock's 50 day simple moving average is $207.32 and its two-hundred day simple moving average is $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 stock has a market cap of $9.06 billion, a price-to-earnings ratio of 18.98 and a beta of 0.91. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $245.02.
Morningstar (NASDAQ:MORN - Get Free Report) last posted its 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 return on equity of 45.17% and a net margin of 17.00%. The firm had revenue of $672.10 million for the quarter, compared to the consensus estimate of $664.75 million.
Institutional Investors Weigh In On Morningstar
A number of hedge funds and other institutional investors have recently bought and sold shares of MORN. Callan Family Office LLC bought a new position in Morningstar during the 2nd quarter valued at approximately $846,000. Public Employees Retirement System of Ohio purchased a new position in Morningstar during the second quarter valued at $903,000. Bank of America Corp DE boosted its holdings in Morningstar by 11.7% in the first quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider's stock worth $31,033,000 after acquiring an additional 19,264 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Morningstar by 182.2% in the second quarter. Engineers Gate Manager LP now owns 39,989 shares of the business services provider's stock worth $6,239,000 after acquiring an additional 25,817 shares in the last quarter. Finally, Fluent Financial LLC grew its stake in shares of Morningstar by 150.0% in the second quarter. Fluent Financial LLC now owns 14,362 shares of the business services provider's stock worth $2,241,000 after acquiring an additional 8,618 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Wall Street Analyst Weigh In
MORN has been the topic of several recent research reports. BMO Capital Markets upped their price target on Morningstar from $230.00 to $237.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 13th. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Finally, Weiss Ratings upgraded shares of Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Morningstar presently has a consensus rating of "Moderate Buy" and a consensus price target of $235.67.
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About Morningstar
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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.
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