Key Points
- Chairman Joseph Mansueto sold 7,250 Morningstar shares on May 18 at an average price of $175.84, totaling about $1.27 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and his ownership fell only slightly by 0.09%.
- Morningstar posted strong quarterly results, with EPS of $3.18 versus a $2.41 consensus estimate and revenue of $644.8 million, also topping expectations. The company reported a net margin of 16.06% and return on equity of 33.14%.
- Insider selling has become a mild negative signal, as the article also notes prior share sales by Mansueto and a smaller sale by CFO Michael Holt. Meanwhile, institutional investors have been adding to positions, and analysts currently rate the stock a consensus Hold with a $236.50 price target.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 6,728 shares of Morningstar stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $178.33, for a total value of $1,199,804.24. Following the transaction, the chairman owned 8,060,262 shares in the company, valued at $1,437,386,522.46. This represents a 0.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Price Performance
MORN opened at $172.55 on Thursday. The stock has a market cap of $6.56 billion, a price-to-earnings ratio of 17.57 and a beta of 0.99. Morningstar, Inc. has a 1 year low of $149.08 and a 1 year high of $316.71. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.66. The stock has a fifty day moving average price of $175.20 and a 200 day moving average price of $192.42.
Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The business services provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.77. The firm had revenue of $644.80 million during the quarter, compared to analysts' expectations of $626.91 million. Morningstar had a return on equity of 33.14% and a net margin of 16.06%.
Hedge Funds Weigh In On Morningstar
A number of institutional investors have recently made changes to their positions in MORN. Wellington Management Group LLP increased its stake in shares of Morningstar by 85.4% in the fourth quarter. Wellington Management Group LLP now owns 1,136,213 shares of the business services provider's stock worth $246,910,000 after purchasing an additional 523,387 shares during the period. AQR Capital Management LLC increased its stake in Morningstar by 106.9% during the third quarter. AQR Capital Management LLC now owns 608,244 shares of the business services provider's stock valued at $141,119,000 after acquiring an additional 314,275 shares during the period. Norges Bank bought a new position in Morningstar during the fourth quarter valued at about $62,367,000. Corient Private Wealth LLC increased its stake in Morningstar by 1,196.5% during the fourth quarter. Corient Private Wealth LLC now owns 260,978 shares of the business services provider's stock valued at $56,713,000 after acquiring an additional 240,848 shares during the period. Finally, Voloridge Investment Management LLC increased its stake in Morningstar by 362.8% during the third quarter. Voloridge Investment Management LLC now owns 187,128 shares of the business services provider's stock valued at $43,416,000 after acquiring an additional 146,693 shares during the period. 57.02% of the stock is currently owned by institutional investors.
Morningstar News Summary
Here are the key news stories impacting Morningstar this week:
Analysts Set New Price Targets
MORN has been the subject of a number of analyst reports. UBS Group set a $280.00 price target on Morningstar in a research report on Friday, February 13th. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings cut Morningstar from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. Finally, BMO Capital Markets reduced their price target on Morningstar from $257.00 to $193.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $236.50.
Check Out Our Latest Stock Report on MORN
Morningstar Company Profile
(
Get Free Report)
Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar's proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.
Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.
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