Morningstar (NASDAQ:MORN) Hits New 12-Month High - What's Next?

Key Points

• Morningstar shares reached a 52-week high of $251.04 before trading at about $246.70; the stock was down 0.3% in the session.
• Recent quarterly results beat expectations: earnings were $3.48 per share versus a $3.04 consensus, while revenue of $672.1 million exceeded the $664.75 million estimate. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $235.67.
• Chairman Joseph Mansueto sold 7,250 shares under a pre-arranged trading plan, a 0.08% reduction in his stake. Insiders sold 67,408 shares worth about $14.8 million over the prior 90 days.

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) shares hit a new 52-week high during trading on Thursday. The stock traded as high as $251.04 and last traded at $246.6960, with a volume of 5,397 shares. The stock had previously closed at $248.65.

Wall Street Analyst Weigh In

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

Morningstar Stock Down 0.3%

The stock has a market cap of $9.20 billion, a P/E ratio of 21.71 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.62. The firm's fifty day moving average is $210.42 and its 200 day moving average is $187.43.

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

Insiders Place Their Bets

In other Morningstar news, Chairman Joseph Mansueto sold 7,250 shares of the firm's stock in a transaction that occurred on Wednesday, November 4th. The stock was sold at an average price of $241.67, for a total value of $1,752,107.50. Following the sale, the chairman owned 8,587,179 shares of the company's stock, valued at $2,075,263,548.93. This trade represents a 0.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 67,408 shares of company stock worth $14,847,568. 38.80% of the stock is owned by corporate insiders.

Institutional Trading of Morningstar

Several hedge funds and other institutional investors have recently bought and sold shares of MORN. Bamco Inc. NY acquired a new stake in Morningstar during the second quarter worth about $545,937,000. BlackRock Inc. acquired a new stake in Morningstar during the second quarter valued at approximately $324,792,000. Dimensional Fund Advisors LP grew its stake in shares of Morningstar by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 517,769 shares of the business services provider's stock valued at $87,514,000 after purchasing an additional 45,798 shares during the period. Renaissance Technologies LLC grew its stake in shares of Morningstar by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 448,870 shares of the business services provider's stock valued at $75,881,000 after purchasing an additional 125,100 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Morningstar by 38.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 394,931 shares of the business services provider's stock worth $66,763,000 after buying an additional 109,833 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors and hedge funds.

About Morningstar

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.