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Morningstar, Inc. (NASDAQ:MORN) Major Shareholder Sells $3,032,472.77 in Stock

Last updated on Wednesday, July 1st, 2020 by MarketBeat

Morningstar, Inc. (NASDAQ:MORN) major shareholder Joseph D. Mansueto sold 21,481 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $141.17, for a total value of $3,032,472.77. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

MORN traded up $8.45 on Wednesday, reaching $149.42. 185,402 shares of the company's stock were exchanged, compared to its average volume of 100,944. The company's 50 day moving average is $146.87 and its 200-day moving average is $144.04. Morningstar, Inc. has a twelve month low of $102.59 and a twelve month high of $166.59. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 45.19 and a beta of 1.15.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, April 29th. The business services provider reported $0.84 EPS for the quarter. The business had revenue of $324.00 million for the quarter. Morningstar had a net margin of 11.47% and a return on equity of 17.21%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a $0.30 dividend. The ex-dividend date is Wednesday, July 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.80%.

MORN has been the subject of a number of recent analyst reports. TheStreet raised Morningstar from a "c+" rating to a "b-" rating in a research report on Monday, June 15th. BidaskClub cut Morningstar from a "hold" rating to a "sell" rating in a report on Wednesday, June 10th.

Institutional investors have recently made changes to their positions in the company. State Street Corp raised its stake in Morningstar by 8.3% during the first quarter. State Street Corp now owns 291,717 shares of the business services provider's stock worth $33,912,000 after acquiring an additional 22,315 shares during the period. Morgan Stanley grew its stake in Morningstar by 5.1% during the 1st quarter. Morgan Stanley now owns 41,310 shares of the business services provider's stock worth $4,802,000 after buying an additional 2,009 shares during the last quarter. FDx Advisors Inc. acquired a new stake in Morningstar in the first quarter worth $357,000. APG Asset Management N.V. bought a new stake in Morningstar in the first quarter valued at $11,714,000. Finally, Voloridge Investment Management LLC boosted its holdings in shares of Morningstar by 5.4% during the first quarter. Voloridge Investment Management LLC now owns 1,840 shares of the business services provider's stock valued at $214,000 after acquiring an additional 94 shares during the period. Institutional investors own 46.75% of the company's stock.

Morningstar Company Profile

Morningstar, Inc provides independent investment research services in North America, Europe, Australia, Canada, Asia, and internationally. It offers a line of data, research, and software tools on a range of investment offerings, including managed investment products, publicly listed companies, fixed income securities, private capital markets, and real-time global market data for financial advisors, asset managers, retirement plan providers and sponsors, and individual and institutional investors.

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