Key Points
- Morningstar Chairman Joseph Mansueto sold 7,250 shares for approximately $1.55 million at an average price of $214.16 under a pre-arranged Rule 10b5-1 trading plan. He retained 7.95 million shares, valued at about $1.70 billion.
- Morningstar recently exceeded quarterly expectations, reporting earnings of $3.10 per share versus the $2.83 consensus estimate and revenue of $663.2 million versus estimates of $649.7 million.
- Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $227.33; institutional investors own 57.02% of shares.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 4,095 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $216.75, for a total transaction of $887,591.25. Following the completion of the sale, the chairman owned 7,943,851 shares in the company, valued at approximately $1,721,829,704.25. This trade represents a 0.05% decrease in their ownership of the stock. 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
Shares of NASDAQ MORN opened at $215.97 on Friday. Morningstar, Inc. has a twelve month low of $141.49 and a twelve 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 firm has a 50-day moving average of $178.94 and a two-hundred day moving average of $176.67. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 20.45 and a beta of 0.99.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.27. Morningstar had a net margin of 16.43% and a return on equity of 38.57%. The company had revenue of $663.20 million for the quarter, compared to analysts' expectations of $649.72 million.
Institutional Investors Weigh In On Morningstar
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MORN. Osterweis Capital Management Inc. purchased a new position in shares of Morningstar during the 2nd quarter valued at $29,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Morningstar during the third quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Morningstar during the first quarter worth $26,000. Grove Bank & Trust acquired a new stake in Morningstar during the second quarter valued at $25,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Morningstar by 23.6% during 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 last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Analyst Ratings Changes
Several research firms have issued reports on MORN. Rothschild & Co Redburn set a $210.00 price target on shares of Morningstar in a research report on Thursday, June 18th. BMO Capital Markets reiterated an "outperform" rating and set a $212.00 price objective on shares of Morningstar in a research report on Friday, June 26th. Weiss Ratings raised Morningstar from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, August 14th. Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a report on Sunday, June 21st. Finally, UBS Group cut their target price on Morningstar from $280.00 to $260.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Morningstar has a consensus rating of "Moderate Buy" and an average target price of $227.33.
Get Our Latest Analysis on Morningstar
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
