Morningstar, Inc. $MORN Shares Bought by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Morningstar, Inc. by 90.1%, owning 3,425 shares valued at approximately $1.07 million after purchasing an additional 1,623 shares in the second quarter.
• Chairman Joseph D. Mansueto sold 7,250 shares of Morningstar at an average price of $256.50, which decreased his ownership by 0.08%.
• Morningstar's stock rating was downgraded from a "buy" to a "hold" by Wall Street Zen, with an average target price of $361.67 according to analysts.

Wealth Enhancement Advisory Services LLC raised its position in Morningstar, Inc. (NASDAQ:MORN - Free Report) by 90.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,425 shares of the business services provider's stock after buying an additional 1,623 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Morningstar were worth $1,066,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of MORN. Hughes Financial Services LLC acquired a new position in Morningstar in the 1st quarter valued at $25,000. Larson Financial Group LLC boosted its position in shares of Morningstar by 5,066.7% during the 1st quarter. Larson Financial Group LLC now owns 155 shares of the business services provider's stock worth $46,000 after purchasing an additional 152 shares in the last quarter. MAI Capital Management boosted its position in shares of Morningstar by 37.8% during the 1st quarter. MAI Capital Management now owns 153 shares of the business services provider's stock worth $46,000 after purchasing an additional 42 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Morningstar by 172.3% during the 1st quarter. Blue Trust Inc. now owns 177 shares of the business services provider's stock worth $53,000 after purchasing an additional 112 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock worth $53,000 after purchasing an additional 34 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Morningstar

In related news, Chairman Joseph D. Mansueto sold 7,250 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $256.50, for a total transaction of $1,859,625.00. Following the transaction, the chairman directly owned 9,373,175 shares in the company, valued at $2,404,219,387.50. This trade represents a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 85,500 shares of company stock worth $22,341,957. Corporate insiders own 36.20% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Morningstar from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $361.67.

Morningstar Price Performance

NASDAQ:MORN opened at $227.02 on Thursday. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 24.18 and a beta of 1.00. Morningstar, Inc. has a 12-month low of $226.26 and a 12-month high of $365.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52. The company's 50-day moving average is $256.55 and its two-hundred day moving average is $282.14.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The business services provider reported $2.40 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.19. The business had revenue of $605.10 million for the quarter, compared to analyst estimates of $605.84 million. Morningstar had a net margin of 17.22% and a return on equity of 23.54%.

Morningstar 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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