Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 5,659 Shares of Stock

Key Points

• Morningstar Chairman Joseph Mansueto sold 5,659 shares at an average price of $218.84, generating approximately $1.24 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his ownership by 0.07%.
• Morningstar shares rose 0.7% to $217.50, while the company reported quarterly adjusted earnings of $3.10 per share and revenue of $663.2 million, exceeding analyst expectations.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $227.33; institutional investors and hedge funds own 57.02% of the company.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 5,659 shares of the firm's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $218.84, for a total value of $1,238,415.56. Following the transaction, the chairman owned 7,938,192 shares of the company's stock, valued at approximately $1,737,193,937.28. This represents a 0.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Trading Up 0.7%

Shares of MORN stock traded up $1.53 on Monday, hitting $217.50. The stock had a trading volume of 262,784 shares, compared to its average volume of 508,600. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market capitalization of $8.16 billion, a P/E ratio of 20.60 and a beta of 0.99. Morningstar, Inc. has a 1 year low of $141.49 and a 1 year high of $265.73. The company's 50 day moving average price is $178.94 and its 200-day moving average price is $176.52.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its earnings results on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $2.83 by $0.27. The company had revenue of $663.20 million during the quarter, compared to analysts' expectations of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Sunday, June 21st. BMO Capital Markets reissued an "outperform" rating and issued a $212.00 price target on shares of Morningstar in a research report on Friday, June 26th. UBS Group cut their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Weiss Ratings upgraded Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Finally, Rothschild & Co Redburn set a $210.00 target price on Morningstar in a report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $227.33.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $53,000 after purchasing an additional 34 shares in the last quarter. Verdence Capital Advisors LLC increased its position in Morningstar by 3.9% during the fourth quarter. Verdence Capital Advisors LLC now owns 1,423 shares of the business services provider's stock worth $309,000 after buying an additional 54 shares during the last quarter. Quarry LP raised its holdings in Morningstar by 51.2% during the fourth quarter. Quarry LP now owns 189 shares of the business services provider's stock valued at $41,000 after buying an additional 64 shares in the last quarter. Diversify Advisory Services LLC raised its holdings in Morningstar by 4.7% during the third quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider's stock valued at $350,000 after buying an additional 74 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Morningstar by 2.0% in the fourth quarter. Diversify Wealth Management LLC now owns 4,168 shares of the business services provider's stock worth $900,000 after buying an additional 82 shares during the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar's proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.

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