Morningstar, Inc. (NASDAQ:MORN) Chairman Sells $2,557,749.50 in Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph D. Mansueto sold 9,062 shares of Morningstar stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $282.25, for a total transaction of $2,557,749.50. Following the completion of the sale, the chairman now owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Morningstar Trading Down 1.8 %

NASDAQ:MORN traded down $5.04 on Thursday, reaching $282.49. 146,948 shares of the stock traded hands, compared to its average volume of 145,003. The firm has a market capitalization of $12.10 billion, a price-to-earnings ratio of 37.32 and a beta of 1.23. The company’s 50 day moving average is $320.35 and its 200-day moving average is $329.08. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a 1-year low of $278.64 and a 1-year high of $365.00.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.15. The business had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of Morningstar by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 497,411 shares of the business services provider’s stock worth $158,772,000 after buying an additional 10,437 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Morningstar by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 191,765 shares of the business services provider’s stock valued at $61,196,000 after purchasing an additional 5,045 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Morningstar by 12.7% during the 3rd quarter. Victory Capital Management Inc. now owns 15,843 shares of the business services provider’s stock valued at $5,056,000 after purchasing an additional 1,789 shares during the last quarter. Quantbot Technologies LP increased its holdings in Morningstar by 259.3% in the 3rd quarter. Quantbot Technologies LP now owns 13,769 shares of the business services provider’s stock worth $4,394,000 after acquiring an additional 9,937 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Morningstar in the 3rd quarter worth about $3,181,000. 57.02% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MORN. StockNews.com upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. BMO Capital Markets decreased their price objective on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd.

About Morningstar

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.