Morningstar (NASDAQ:MORN) Chairman Sells $1,654,405.52 in Stock

Key Points

• Morningstar Chairman Joseph Mansueto sold 6,904 shares for about $1.65 million under a pre-arranged Rule 10b5-1 plan, reducing his stake by 0.08%. He retained approximately 8.6 million shares.
• Morningstar reported quarterly EPS of $3.48, beating the $3.04 analyst consensus, and revenue of $672.1 million, above estimates of $664.75 million.
• Morningstar shares rose 3.2% to $244.25 on Wednesday, near their 52-week high of $245.02.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 6,904 shares of Morningstar stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $239.63, for a total transaction of $1,654,405.52. Following the completion of the transaction, the chairman owned 8,601,679 shares of the company's stock, valued at $2,061,220,338.77. This represents a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Up 3.2%

NASDAQ MORN traded up $7.54 on Wednesday, hitting $244.25. 254,203 shares of the stock were exchanged, compared to its average volume of 453,532. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.62. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $245.02. The company has a market cap of $9.06 billion, a PE ratio of 21.33 and a beta of 0.91. The company has a 50-day moving average price of $206.74 and a 200-day moving average price of $186.40.

Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $3.48 EPS for the quarter, beating analysts' consensus estimates of $3.04 by $0.44. Morningstar had a net margin of 17.00% and a return on equity of 45.17%. The company had revenue of $672.10 million for the quarter, compared to the consensus estimate of $664.75 million.

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaCore Capital LLC purchased a new position in Morningstar in the third quarter valued at approximately $274,000. Fulcrum Asset Management LLP lifted its position in shares of Morningstar by 4,626.3% during the 3rd quarter. Fulcrum Asset Management LLP now owns 898 shares of the business services provider's stock worth $167,000 after buying an additional 879 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Morningstar by 326.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,275 shares of the business services provider's stock worth $5,215,000 after buying an additional 20,882 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Morningstar during the 3rd quarter worth approximately $363,000. Finally, Chicago Partners Investment Group LLC boosted its holdings in shares of Morningstar by 11.1% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,074 shares of the business services provider's stock valued at $691,000 after buying an additional 306 shares in the last quarter. 57.02% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MORN has been the subject of a number of analyst reports. Wall Street Zen upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Weiss Ratings upgraded Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. BMO Capital Markets raised their price target on Morningstar from $230.00 to $237.00 and gave the company an "outperform" rating in a research note on Tuesday, October 13th. Finally, UBS Group decreased their price target on Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $235.67.

About Morningstar

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.

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