Key Points
- Chairman Joseph Mansueto sold 7,250 Morningstar shares at an average $245.61, for about $1.78 million. The sale was made under a pre-arranged Rule 10b5-1 plan and reduced his stake by just 0.08%; he retained approximately 8.58 million shares.
- Morningstar reported quarterly earnings of $3.48 per share, beating the $3.04 consensus estimate, while revenue of $672.1 million also exceeded forecasts.
- Analyst sentiment was moderately positive: the stock had a consensus “Moderate Buy” rating and an average price target of $235.67.
Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 7,250 shares of the firm's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $245.61, for a total value of $1,780,672.50. Following the transaction, the chairman owned 8,579,929 shares in the company, valued at approximately $2,107,316,361.69. The trade was a 0.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Morningstar stock opened at $246.08 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.05 and a quick ratio of 1.05. The business's 50 day simple moving average is $211.14 and its two-hundred day simple moving average is $187.60. The stock has a market capitalization of $9.13 billion, a P/E ratio of 19.94 and a beta of 0.91. Morningstar, Inc. has a one year low of $141.49 and a one year high of $251.04.
Morningstar (NASDAQ:MORN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The business services provider reported $3.48 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.44. The firm had revenue of $672.10 million during the quarter, compared to the consensus estimate of $664.75 million. Morningstar had a return on equity of 45.17% and a net margin of 17.00%.
Latest Morningstar News
These are some of the MORN news items that stood out recently:
- Positive Sentiment: A Seeking Alpha analysis characterized Morningstar as “still slightly undervalued,” which may support the shares if investors agree with its valuation view. Morningstar: Still Slightly Undervalued
- Neutral Sentiment: Chairman Joseph Mansueto reported selling a combined 14,655 shares across three transactions. The sales represented a very small reduction in his holdings, and the filings state they were made under a pre-arranged Rule 10b5-1 plan—factors that temper the negative signal from insider selling. SEC Form 4 filing
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the business. Bamco Inc. NY bought a new position in Morningstar during the 2nd quarter valued at approximately $545,937,000. BlackRock Inc. purchased a new stake in Morningstar in the 2nd quarter worth approximately $324,792,000. Dimensional Fund Advisors LP grew its position in shares of Morningstar by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 517,769 shares of the business services provider's stock worth $87,514,000 after buying an additional 45,798 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Morningstar by 38.6% in the 1st quarter. Renaissance Technologies LLC now owns 448,870 shares of the business services provider's stock worth $75,881,000 after buying an additional 125,100 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Morningstar by 38.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 394,931 shares of the business services provider's stock worth $66,763,000 after buying an additional 109,833 shares during the last quarter. Hedge funds and other institutional investors own 57.02% of the company's stock.
Wall Street Analyst Weigh In
MORN has been the topic of several analyst reports. BMO Capital Markets lifted their target price on shares of Morningstar from $230.00 to $237.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 13th. Wall Street Zen raised shares of Morningstar from a "hold" rating to a "buy" rating in a research report on Saturday, September 26th. Finally, Weiss Ratings raised shares of Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $235.67.
Get Our Latest Stock Analysis on Morningstar
About Morningstar
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Morningstar, Inc. is a global provider of independent investment research, data, ratings and investment-management tools. The company serves individual investors, financial advisers, asset managers, retirement plan providers and institutions. Its offerings include investment and portfolio data, mutual fund and exchange-traded fund research, software for financial professionals, and wealth-management services. Morningstar also provides credit ratings through DBRS Morningstar and sustainability research through Sustainalytics.
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