Morningstar (NASDAQ:MORN) Stock: Insider Joseph Mansueto Sells 7,250 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the company’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $241.67, for a total value of $1,752,107.50. Following the sale, the chairman directly owned 8,594,429 shares in the company, valued at $2,077,015,656.43. This represents a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Up 1.2%

Shares of NASDAQ MORN opened at $247.17 on Friday. The stock has a market cap of $9.17 billion, a P/E ratio of 21.59 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.62. Morningstar, Inc. has a 12-month low of $141.49 and a 12-month high of $248.88. The business’s fifty day simple moving average is $208.01 and its 200-day simple moving average is $186.71.

Morningstar (NASDAQ:MORN) last released its earnings results on Wednesday, October 28th. The business services provider reported $3.48 EPS for the quarter, topping the consensus estimate of $3.04 by $0.44. Morningstar had a return on equity of 45.17% and a net margin of 17.00%. The firm had revenue of $672.10 million during the quarter, compared to analysts’ expectations of $664.75 million.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MORN. Weiss Ratings upgraded Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. BMO Capital Markets upped 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. Finally, Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $235.67.

Key Stories Impacting Morningstar

Here are the key news stories impacting Morningstar this week:

• Positive Sentiment: Morningstar’s latest reported quarter showed stronger-than-expected results: earnings per share of $3.48 topped the $3.04 consensus, while revenue of $672.1 million exceeded estimates of $664.75 million. This performance may help support investor confidence. Insider Selling: Morningstar Chairman Sells Stock
• Neutral Sentiment: Chairman Joseph Mansueto sold shares on multiple dates from November 2–4, totaling roughly $5.1 million. Each sale reduced his holdings by about 0.08%; he still owns more than 8.5 million shares. The trades were made under a pre-arranged Rule 10b5-1 plan, which moderates the signal as a judgment on the company’s prospects. Insider Selling: Morningstar Chairman Sells Stock
• Neutral Sentiment: Morningstar is seeking a markets and investing editor in London, a hiring notice that offers little direct indication of near-term financial performance. Morningstar seeks a markets and investing editor in London

Hedge Funds Weigh In On Morningstar

A number of institutional investors and hedge funds have recently modified their holdings of MORN. Bamco Inc. NY acquired a new stake in shares of Morningstar during the second quarter worth about $545,937,000. BlackRock Inc. acquired a new stake in shares of Morningstar in the 2nd quarter valued at about $324,792,000. Dimensional Fund Advisors LP boosted 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 valued at $87,514,000 after purchasing an additional 45,798 shares during the period. Renaissance Technologies LLC grew its stake in Morningstar by 38.6% during 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 stake in Morningstar by 38.5% during 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. Institutional investors and hedge funds own 57.02% of the company’s stock.

Morningstar Company Profile

Morningstar, Inc is a global provider of independent investment research, data, and financial technology. The company serves asset managers, financial advisors, institutions, retirement plans, and individual investors with information designed to support investment analysis and decision-making.

Its products and services include research and ratings on mutual funds, exchange-traded funds, stocks, bonds, and other investments; portfolio analysis and planning tools; investment-management and advisory services; and software and data solutions for financial professionals and institutions.