Key Points
- Morningstar Chairman Joseph Mansueto sold 6,594 shares for approximately $1.41 million at an average price of $213.75, reducing his position by 0.08%. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan, and he still directly owns nearly 8 million shares.
- Morningstar reported stronger-than-expected quarterly results, with earnings per share of $3.10 versus the $2.83 consensus estimate and revenue of $663.2 million versus expectations of $649.72 million.
- The stock opened at $213.65 and has a consensus “Moderate Buy” rating from analysts, with an average price target of $227.33; institutional investors own 57.02% of the company.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 6,594 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $213.75, for a total value of $1,409,467.50. Following the completion of the transaction, the chairman directly owned 7,955,196 shares of the company's stock, valued at approximately $1,700,423,145. This trade represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Morningstar Stock Up 2.4%
Morningstar stock opened at $213.65 on Thursday. The business's 50-day moving average price is $177.32 and its 200 day moving average price is $176.29. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.66. The firm has a market cap of $8.01 billion, a price-to-earnings ratio of 20.23 and a beta of 0.99. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $266.05.
Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 EPS for the quarter, topping the consensus estimate of $2.83 by $0.27. Morningstar had a return on equity of 38.57% and a net margin of 16.43%.The business had revenue of $663.20 million for the quarter, compared to analyst estimates of $649.72 million.
Hedge Funds Weigh In On Morningstar
Several hedge funds have recently added to or reduced their stakes in MORN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Morningstar by 23.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 178 shares of the business services provider's stock worth $53,000 after buying an additional 34 shares during the last quarter. Focus Partners Wealth grew its stake in Morningstar by 3.4% during the 1st quarter. Focus Partners Wealth now owns 3,838 shares of the business services provider's stock worth $1,151,000 after buying an additional 126 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Morningstar by 278.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 208 shares of the business services provider's stock valued at $62,000 after acquiring an additional 153 shares during the period. EverSource Wealth Advisors LLC lifted its position in Morningstar by 2,450.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 561 shares of the business services provider's stock worth $176,000 after acquiring an additional 539 shares during the period. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Morningstar by 58.8% during the second quarter. Qube Research & Technologies Ltd now owns 138,932 shares of the business services provider's stock worth $43,615,000 after purchasing an additional 51,449 shares during the period. 57.02% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on MORN shares. Wall Street Zen raised Morningstar from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. UBS Group cut their price objective on Morningstar from $280.00 to $260.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. BMO Capital Markets reissued an "outperform" rating and set a $212.00 price objective on shares of Morningstar in a research note on Friday, June 26th. Rothschild & Co Redburn set a $210.00 target price on shares of Morningstar in a research note on Thursday, June 18th. Finally, Weiss Ratings raised Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $227.33.
View Our Latest Research 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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