9,365 Shares in Morningstar, Inc. (NASDAQ:MORN) Purchased by Wealthquest Corp

Wealthquest Corp purchased a new position in shares of Morningstar, Inc. (NASDAQ:MORN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 9,365 shares of the business services provider's stock, valued at approximately $2,808,000. Morningstar comprises 0.3% of Wealthquest Corp's portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Smartleaf Asset Management LLC raised its stake in Morningstar by 178.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 78 shares of the business services provider's stock worth $26,000 after purchasing an additional 50 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in Morningstar during the fourth quarter worth about $28,000. Blue Trust Inc. raised its stake in Morningstar by 172.3% during the first quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock worth $53,000 after purchasing an additional 112 shares during the period. Johnson Financial Group Inc. purchased a new position in Morningstar during the fourth quarter worth about $71,000. Finally, Whittier Trust Co. raised its stake in Morningstar by 64.2% during the fourth quarter. Whittier Trust Co. now owns 271 shares of the business services provider's stock worth $91,000 after purchasing an additional 106 shares during the period. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $297.25, for a total value of $2,155,062.50. Following the completion of the transaction, the chairman now owns 9,495,705 shares in the company, valued at approximately $2,822,598,311.25. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Caroline J. Tsay sold 200 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $309.84, for a total transaction of $61,968.00. Following the transaction, the director now owns 4,345 shares of the company's stock, valued at $1,346,254.80. This trade represents a 4.40% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,569 shares of company stock valued at $16,333,474. Company insiders own 36.20% of the company's stock.

Wall Street Analyst Weigh In

MORN has been the topic of a number of analyst reports. BMO Capital Markets lifted their target price on shares of Morningstar from $339.00 to $355.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd.

Morningstar Price Performance

Morningstar stock opened at $309.88 on Wednesday. The company's 50 day simple moving average is $298.44 and its 200-day simple moving average is $309.78. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 34.82 and a beta of 1.02. Morningstar, Inc. has a 1 year low of $250.34 and a 1 year high of $365.00. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.11 and a current ratio of 1.11.

Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.13. The business had revenue of $581.90 million for the quarter, compared to the consensus estimate of $589.07 million. Morningstar had a net margin of 16.60% and a return on equity of 23.23%.

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.

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