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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $233.06, for a total transaction of $1,689,685.00. Following the sale, the chairman directly owned 8,608,583 shares in the company, valued at approximately $2,006,316,353.98. This trade represents 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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

MORN opened at $247.17 on Friday. The firm has a market capitalization of $9.17 billion, a P/E ratio of 21.59 and a beta of 0.91. The stock has a fifty day moving average of $208.01 and a 200-day moving average of $186.71. 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 12-month low of $141.49 and a 12-month high of $248.88.

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

Morningstar News Summary

Here are the key news stories impacting Morningstar this week:

• Positive Sentiment: Morningstar’s latest reported quarter showed stronger-than-expected results: earnings per share of $3.48 topped the $3.04 consensus, while revenue of $672.1 million exceeded estimates of $664.75 million. This performance may help support investor confidence. Insider Selling: Morningstar Chairman Sells Stock
• Neutral Sentiment: Chairman Joseph Mansueto sold shares on multiple dates from November 2–4, totaling roughly $5.1 million. Each sale reduced his holdings by about 0.08%; he still owns more than 8.5 million shares. The trades were made under a pre-arranged Rule 10b5-1 plan, which moderates the signal as a judgment on the company’s prospects. Insider Selling: Morningstar Chairman Sells Stock
• Neutral Sentiment: Morningstar is seeking a markets and investing editor in London, a hiring notice that offers little direct indication of near-term financial performance. Morningstar seeks a markets and investing editor in London

Hedge Funds Weigh In On Morningstar

Institutional investors and hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co raised its holdings in shares of Morningstar by 80.0% during the third quarter. CENTRAL TRUST Co now owns 135 shares of the business services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Covestor Ltd grew its stake in Morningstar by 41.7% in the third quarter. Covestor Ltd now owns 221 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 65 shares in the last quarter. Signaturefd LLC grew its stake in Morningstar by 12.8% in the third quarter. Signaturefd LLC now owns 662 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 75 shares in the last quarter. IFP Advisors Inc grew its stake in Morningstar by 27.9% in the third quarter. IFP Advisors Inc now owns 403 shares of the business services provider’s stock valued at $77,000 after purchasing an additional 88 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Morningstar by 32.6% in the 3rd quarter. Nisa Investment Advisors LLC now owns 403 shares of the business services provider’s stock worth $77,000 after purchasing an additional 99 shares during the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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