Key Points
- Joseph Mansueto, Morningstar's chairman, sold 6,848 shares on Nov. 13 at an average price of $215.30 for about $1.47 million, reducing his stake by 0.08% to 8,639,456 shares valued at roughly $1.86 billion.
- Morningstar beat Q3 estimates with $2.55 EPS and $617.4M revenue, yet the stock traded down to $211.95 (market cap ~$8.72B); analysts have a "Moderate Buy" consensus and a $285 average price target.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 6,848 shares of the business's stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $215.30, for a total value of $1,474,374.40. Following the transaction, the chairman owned 8,639,456 shares of the company's stock, valued at $1,860,074,876.80. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Morningstar Stock Down 0.9%
MORN stock traded down $2.03 during mid-day trading on Friday, hitting $211.95. 247,060 shares of the company were exchanged, compared to its average volume of 278,092. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.13 and a current ratio of 1.13. The firm's 50 day simple moving average is $226.91 and its 200 day simple moving average is $267.58. The firm has a market cap of $8.72 billion, a P/E ratio of 24.11 and a beta of 1.06. Morningstar, Inc. has a 1-year low of $202.89 and a 1-year high of $365.00.
Morningstar (NASDAQ:MORN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The business services provider reported $2.55 EPS for the quarter, topping analysts' consensus estimates of $2.42 by $0.13. The firm had revenue of $617.40 million for the quarter, compared to analyst estimates of $603.29 million. Morningstar had a return on equity of 24.68% and a net margin of 15.70%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on MORN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Morningstar in a research note on Wednesday, October 8th. BMO Capital Markets set a $250.00 target price on shares of Morningstar in a research note on Thursday, October 30th. Finally, UBS Group reduced their price objective on Morningstar from $350.00 to $320.00 and set a "buy" rating for the company in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $285.00.
Check Out Our Latest Analysis on Morningstar
Institutional Trading of Morningstar
Several institutional investors have recently added to or reduced their stakes in MORN. Schonfeld Strategic Advisors LLC increased its stake in shares of Morningstar by 114.0% in the third quarter. Schonfeld Strategic Advisors LLC now owns 24,245 shares of the business services provider's stock worth $5,625,000 after buying an additional 12,915 shares during the period. Ashford Capital Management Inc. lifted its holdings in Morningstar by 9.7% in the third quarter. Ashford Capital Management Inc. now owns 6,648 shares of the business services provider's stock worth $1,542,000 after buying an additional 589 shares during the period. Creative Planning boosted its position in shares of Morningstar by 75.9% during the third quarter. Creative Planning now owns 7,926 shares of the business services provider's stock valued at $1,839,000 after purchasing an additional 3,420 shares in the last quarter. Lazard Asset Management LLC grew its stake in Morningstar by 34.5% in the third quarter. Lazard Asset Management LLC now owns 65,817 shares of the business services provider's stock worth $15,270,000 after purchasing an additional 16,865 shares during the period. Finally, AQR Capital Management LLC raised its holdings in Morningstar by 106.9% in the third quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider's stock worth $141,119,000 after purchasing an additional 314,275 shares in the last quarter. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Morningstar Company Profile
(
Get Free Report)
Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.
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