Morningstar (NASDAQ:MORN) Reaches New 12-Month Low on Insider Selling

Shares of Morningstar, Inc. (NASDAQ:MORN – Get Rating) reached a new 52-week low during trading on Friday following insider selling activity. The stock traded as low as $198.33 and last traded at $198.34, with a volume of 4170 shares trading hands. The stock had previously closed at $201.12.

Specifically, Chairman Joseph D. Mansueto sold 1,260 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $232.98, for a total transaction of $293,554.80. Following the sale, the chairman now owns 11,729,730 shares of the company’s stock, valued at $2,732,792,495.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Chairman Joseph D. Mansueto sold 8,620 shares of the business’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $207.18, for a total value of $1,785,891.60. Following the sale, the chairman now owns 11,514,073 shares of the company’s stock, valued at $2,385,485,644.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Joseph D. Mansueto sold 1,260 shares of the business’s stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $232.98, for a total transaction of $293,554.80. Following the completion of the sale, the chairman now directly owns 11,729,730 shares in the company, valued at approximately $2,732,792,495.40. The disclosure for this sale can be found here. Insiders have sold 135,540 shares of company stock valued at $29,621,700 over the last three months. 45.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Redburn Partners cut shares of Morningstar from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 11th.

Morningstar Stock Down 4.9 %

The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $8.12 billion, a price-to-earnings ratio of 117.34 and a beta of 1.19. The firm’s fifty day moving average price is $230.16 and its two-hundred day moving average price is $228.61.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. grew its holdings in shares of Morningstar by 9.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,489 shares of the business services provider’s stock valued at $406,000 after purchasing an additional 130 shares during the last quarter. AlphaCrest Capital Management LLC bought a new stake in Morningstar in the 1st quarter worth $425,000. MetLife Investment Management LLC bought a new stake in Morningstar in the 1st quarter worth $387,000. BlackRock Inc. grew its holdings in Morningstar by 1.6% in the 1st quarter. BlackRock Inc. now owns 1,069,710 shares of the business services provider’s stock worth $292,213,000 after acquiring an additional 16,952 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Morningstar by 4.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,871 shares of the business services provider’s stock valued at $540,000 after purchasing an additional 80 shares in the last quarter. 54.79% of the stock is owned by institutional investors.

About Morningstar

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Morningstar, Inc engages in the provision of investment research. It offers Morningstar data, direct, investment management, advisor workstation, workplace solutions, pitchbook data, enterprise components, research, credit ratings and indexes. The company was founded by Joseph D. Mansueto on May 16, 1984, and is headquartered in Chicago, IL.