Key Points
- Morningstar Chairman Joseph Mansueto sold 7,250 shares at an average price of $199.63, generating approximately $1.45 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his holdings by 0.09%.
- Morningstar reported quarterly adjusted earnings of $3.10 per share, exceeding the $2.83 consensus estimate, while revenue of $663.2 million also surpassed expectations.
- Analyst sentiment remains mixed: the stock has an average “Hold” rating and a consensus price target of $227.33, while institutional investors and hedge funds own 57.02% of outstanding shares.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 2,272 shares of the business's stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $198.38, for a total transaction of $450,719.36. Following the sale, the chairman owned 8,014,170 shares in the company, valued at $1,589,851,044.60. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Trading Up 2.1%
Shares of Morningstar stock opened at $200.66 on Friday. The company has a 50-day moving average of $174.25 and a two-hundred day moving average of $176.72. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $266.05. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.66. The stock has a market cap of $7.53 billion, a PE ratio of 19.00 and a beta of 0.99.
Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The business services provider reported $3.10 earnings per share for the quarter, topping analysts' consensus estimates of $2.83 by $0.27. The business had revenue of $663.20 million for the quarter, compared to analysts' expectations of $649.72 million. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.
Wall Street Analysts Forecast Growth
MORN has been the topic of a number of research reports. BMO Capital Markets reissued an "outperform" rating and issued a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. Weiss Ratings downgraded shares of Morningstar from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. UBS Group lowered their price target on shares of Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Finally, Rothschild & Co Redburn set a $210.00 price objective on shares of Morningstar in a research note on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $227.33.
Read Our Latest Research Report on Morningstar
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Morningstar by 23.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock valued at $53,000 after purchasing an additional 34 shares during the period. WPG Advisers LLC boosted its stake in Morningstar by 36.0% in the 4th quarter. WPG Advisers LLC now owns 185 shares of the business services provider's stock worth $40,000 after buying an additional 49 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in 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 during the period. Quarry LP grew its holdings in Morningstar by 51.2% in the 4th quarter. Quarry LP now owns 189 shares of the business services provider's stock valued at $41,000 after buying an additional 64 shares during the period. Finally, Diversify Advisory Services LLC increased its stake in shares of Morningstar by 4.7% during the 3rd quarter. Diversify Advisory Services LLC now owns 1,641 shares of the business services provider's stock valued at $350,000 after acquiring an additional 74 shares during 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 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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