Morningstar (NASDAQ:MORN) Chairman Joseph Mansueto Sells 135 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 135 shares of Morningstar stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $250.14, for a total value of $33,768.90. Following the sale, the chairman directly owned 8,565,294 shares of the company’s stock, valued at approximately $2,142,522,641.16. This trade represents a 0.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

Shares of MORN stock opened at $246.08 on Friday. Morningstar, Inc. has a twelve month low of $141.49 and a twelve month high of $251.04. The stock has a market capitalization of $9.13 billion, a price-to-earnings ratio of 19.94 and a beta of 0.91. The stock has a fifty day simple moving average of $211.14 and a two-hundred day simple moving average of $187.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.62.

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

Hedge Funds Weigh In On Morningstar

Large investors have recently added to or reduced their stakes in the company. Grove Bank & Trust bought a new stake in shares of Morningstar in the 2nd quarter valued at about $25,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Morningstar in the 1st quarter worth approximately $26,000. CENTRAL TRUST Co grew its position in shares of Morningstar by 80.0% in the 3rd quarter. CENTRAL TRUST Co now owns 135 shares of the business services provider’s stock worth $26,000 after buying an additional 60 shares during the last quarter. Covestor Ltd raised its stake in shares of Morningstar by 41.7% during the 3rd quarter. Covestor Ltd now owns 221 shares of the business services provider’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Fortitude Family Office LLC raised its stake in shares of Morningstar by 260.0% during the 3rd quarter. Fortitude Family Office LLC now owns 234 shares of the business services provider’s stock worth $44,000 after acquiring an additional 169 shares in the last quarter. 57.02% of the stock is currently owned by institutional investors.

Top Morningstar Stories

These are some of the MORN stories that stood out recently:

• Positive Sentiment: A Seeking Alpha analysis characterized Morningstar as “still slightly undervalued,” which may support the shares if investors agree with its valuation view. Morningstar: Still Slightly Undervalued
• Neutral Sentiment: Chairman Joseph Mansueto reported selling a combined 14,655 shares across three transactions. The sales represented a very small reduction in his holdings, and the filings state they were made under a pre-arranged Rule 10b5-1 plan—factors that temper the negative signal from insider selling. SEC Form 4 filing

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BMO Capital Markets increased their target price on shares of Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a report on Tuesday, October 13th. Weiss Ratings upgraded shares of Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Morningstar presently 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.