Morningstar (NASDAQ:MORN) Chairman Sells 7,250 Shares of Stock

Morningstar, Inc. (NASDAQ:MORN - Get Free Report) Chairman Joseph Mansueto sold 7,250 shares of Morningstar stock in a transaction dated Friday, November 13th. The stock was sold at an average price of $247.30, for a total transaction of $1,792,925.00. Following the sale, the chairman directly owned 8,558,044 shares of the company's stock, valued at $2,116,404,281.20. The trade was a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

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MORN traded up $0.18 on Friday, reaching $246.26. The company had a trading volume of 246,342 shares, compared to its average volume of 271,731. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $251.04. The stock has a market cap of $9.14 billion, a P/E ratio of 21.51 and a beta of 0.91. The company's fifty day moving average is $211.75 and its 200 day moving average is $187.82. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.05 and a current ratio of 1.05.

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Morningstar (NASDAQ:MORN - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $664.75 million. Morningstar had a net margin of 17.00% and a return on equity of 45.17%.

Analyst Upgrades and Downgrades

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Several equities analysts have recently commented on MORN shares. BMO Capital Markets upped their target price on Morningstar from $230.00 to $237.00 and gave the company an "outperform" rating in a research report on Tuesday, October 13th. Weiss Ratings raised Morningstar from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, October 9th. Finally, Wall Street Zen upgraded Morningstar from a "hold" rating to a "buy" rating in a research note on Saturday, September 26th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $235.67.

View Our Latest Stock Report on MORN

Morningstar News Summary

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Here's some of the latest news about MORN:

• Positive Sentiment: A recent Seeking Alpha analysis described Morningstar as “still slightly undervalued,” a potentially supportive view for investors focused on valuation. Separately, the company’s latest reported quarter beat consensus on both earnings and revenue: EPS was $3.48 versus $3.04 expected, and revenue was $672.1 million versus $664.75 million. Morningstar: Still Slightly Undervalued
• Neutral Sentiment: Chairman Joseph Mansueto sold 14,635 shares across three transactions. The sales were made under a pre-arranged Rule 10b5-1 plan and are small relative to his remaining ownership of more than 8.5 million shares, limiting their significance as a signal about the company’s outlook. SEC Form 4 filing

Hedge Funds Weigh In On Morningstar

A number of hedge funds have recently bought and sold shares of the business. Bamco Inc. NY bought a new stake in shares of Morningstar in the second quarter valued at approximately $545,937,000. BlackRock Inc. acquired a new stake in Morningstar during the second quarter worth approximately $324,792,000. Bank of New York Mellon Corp bought a new position in Morningstar during the 2nd quarter worth $36,272,000. Bank of America Corp DE bought a new position in Morningstar during the 2nd quarter worth $30,051,000. Finally, Boston Partners acquired a new position in Morningstar in the 3rd quarter valued at $25,952,000. 57.02% of the stock is owned by institutional investors.

Morningstar Company Profile

(Get Free Report)

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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