Morningstar (NASDAQ:MORN) Stock: Insider Joseph Mansueto Sells 7,250 Shares

Key Points

• Morningstar Chairman Joseph Mansueto sold 7,250 shares for about $1.78 million under a pre-arranged Rule 10b5-1 plan, reducing his holdings by 0.08%. He retained approximately 8.58 million shares.
• Morningstar’s latest quarterly results beat expectations: EPS was $3.48 versus a $3.04 consensus estimate, while revenue of $672.1 million also exceeded forecasts.
• The shares recently traded at $246.08, near their 52-week high of $251.04. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $235.67.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 7,250 shares of the business's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $245.61, for a total value of $1,780,672.50. Following the completion of the sale, the chairman owned 8,579,929 shares in the company, valued at approximately $2,107,316,361.69. The trade was a 0.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Shares of NASDAQ MORN traded down $2.57 during trading on Thursday, reaching $246.08. 181,162 shares of the stock traded hands, compared to its average volume of 449,489. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $9.13 billion, a P/E ratio of 21.49 and a beta of 0.91. Morningstar, Inc. has a 52-week low of $141.49 and a 52-week high of $251.04. The company has a 50-day moving average of $210.42 and a 200-day moving average of $187.43.

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

Hedge Funds Weigh In On Morningstar

Hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in Morningstar in the 2nd quarter worth about $903,000. Callan Family Office LLC purchased a new position in Morningstar during the 2nd quarter valued at about $846,000. Bank of America Corp DE grew its holdings in Morningstar by 11.7% during the 1st quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider's stock valued at $31,033,000 after buying an additional 19,264 shares in the last quarter. Engineers Gate Manager LP increased its position in shares of Morningstar by 182.2% during the second quarter. Engineers Gate Manager LP now owns 39,989 shares of the business services provider's stock valued at $6,239,000 after buying an additional 25,817 shares during the period. Finally, Fluent Financial LLC increased its position in shares of Morningstar by 150.0% during the second quarter. Fluent Financial LLC now owns 14,362 shares of the business services provider's stock valued at $2,241,000 after buying an additional 8,618 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. BMO Capital Markets upped their price target on shares of Morningstar from $230.00 to $237.00 and gave the company an "outperform" rating in a research note on Tuesday, October 13th. Finally, Weiss Ratings upgraded shares of Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.67.

Morningstar Company Profile

Morningstar, Inc. is a global provider of independent investment research, data, ratings and investment-management tools. The company serves individual investors, financial advisers, asset managers, retirement plan providers and institutions. Its offerings include investment and portfolio data, mutual fund and exchange-traded fund research, software for financial professionals, and wealth-management services. Morningstar also provides credit ratings through DBRS Morningstar and sustainability research through Sustainalytics.

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