Key Points
- Morningstar Chairman Joseph Mansueto sold 2,270 shares on May 22 at an average price of $176.72, totaling about $401,154. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Morningstar shares rose 3.6% and opened at $179.64, with the stock trading near its 50-day moving average but below its 200-day average. The company currently has a market cap of $6.83 billion and a P/E ratio of 18.29.
- The company beat quarterly earnings expectations on April 29, reporting $3.18 EPS versus $2.41 expected, on revenue of $644.8 million. Analyst sentiment is mixed, with an average rating of Hold and an average target price of $236.50.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 2,270 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $176.72, for a total transaction of $401,154.40. Following the sale, the chairman owned 8,043,492 shares of the company's stock, valued at $1,421,445,906.24. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Stock Up 3.6%
NASDAQ MORN opened at $179.64 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day simple moving average of $174.99 and a 200 day simple moving average of $192.06. Morningstar, Inc. has a twelve month low of $149.08 and a twelve month high of $316.71. The stock has a market cap of $6.83 billion, a PE ratio of 18.29 and a beta of 0.99.
Morningstar (NASDAQ:MORN - Get Free Report) last released its earnings results on Wednesday, April 29th. The business services provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.77. Morningstar had a net margin of 16.06% and a return on equity of 33.14%. The business had revenue of $644.80 million during the quarter, compared to analysts' expectations of $626.91 million.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Morningstar from $257.00 to $193.00 and set an "outperform" rating for the company in a research report on Tuesday, February 17th. Weiss Ratings cut shares of Morningstar from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, April 9th. Wall Street Zen upgraded shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, UBS Group set a $280.00 target price on shares of Morningstar in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $236.50.
Read Our Latest Analysis on MORN
Institutional Trading of Morningstar
A number of large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Morningstar by 23.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock valued at $53,000 after buying an additional 34 shares in the last quarter. WPG Advisers LLC increased its position in shares of Morningstar by 36.0% in the 4th quarter. WPG Advisers LLC now owns 185 shares of the business services provider's stock valued at $40,000 after buying an additional 49 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of Morningstar by 3.9% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,423 shares of the business services provider's stock valued at $309,000 after buying an additional 54 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Morningstar by 54.2% in the 3rd quarter. Clearstead Advisors LLC now owns 165 shares of the business services provider's stock valued at $38,000 after buying an additional 58 shares in the last quarter. Finally, Quarry LP boosted its stake in Morningstar by 51.2% in the 4th quarter. Quarry LP now owns 189 shares of the business services provider's stock worth $41,000 after purchasing an additional 64 shares during the period. Institutional investors own 57.02% of the company's stock.
About Morningstar
(
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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