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 Friday, November 13th. The shares were sold at an average price of $247.30, for a total transaction of $1,792,925.00. Following the completion of the sale, the chairman owned 8,558,044 shares of the company’s stock, valued at approximately $2,116,404,281.20. This represents a 0.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Trading Up 0.1%

Morningstar stock traded up $0.18 during mid-day trading on Friday, hitting $246.26. 246,342 shares of the company’s stock were exchanged, compared to its average volume of 448,561. The firm has a market capitalization of $9.14 billion, a P/E ratio of 21.51 and a beta of 0.91. Morningstar, Inc. has a fifty-two week low of $141.49 and a fifty-two week high of $251.04. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.62. The company’s 50 day simple moving average is $211.14 and its 200-day simple moving average is $187.60.

Morningstar (NASDAQ:MORN) last posted its earnings results on Wednesday, October 28th. The business services provider reported $3.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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.

Key Headlines Impacting Morningstar

Investors following MORN have been watching these headlines:

• 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

Analyst Ratings Changes

MORN has been the subject of a number of research reports. Weiss Ratings raised Morningstar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. Wall Street Zen upgraded shares of Morningstar from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. Finally, BMO Capital Markets increased their price objective on shares of Morningstar from $230.00 to $237.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $235.67.

Institutional Investors Weigh In On Morningstar

Hedge funds and other institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co boosted its position in Morningstar by 80.0% during the 3rd quarter. CENTRAL TRUST Co now owns 135 shares of the business services provider’s stock worth $26,000 after acquiring an additional 60 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Morningstar during the 1st quarter worth approximately $26,000. Grove Bank & Trust acquired a new stake in shares of Morningstar in the second quarter valued at approximately $25,000. Covestor Ltd raised its holdings in shares of Morningstar by 41.7% in the third quarter. Covestor Ltd now owns 221 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 65 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its position in shares of Morningstar by 260.0% in the third quarter. Fortitude Family Office LLC now owns 234 shares of the business services provider’s stock worth $44,000 after purchasing an additional 169 shares in 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, 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.