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

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 7,250 shares of the stock in a transaction on Monday, November 9th. The stock was sold at an average price of $245.61, for a total transaction of $1,780,672.50. Following the completion of the transaction, the chairman directly owned 8,579,929 shares in the company, valued at $2,107,316,361.69. The trade was a 0.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Stock Performance

Morningstar stock opened at $246.08 on Friday. The firm’s fifty day moving average price is $211.14 and its 200-day moving average price is $187.60. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $9.13 billion, a P/E ratio of 19.94 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.

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

Institutional Investors Weigh In On Morningstar

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new position in Morningstar in the 2nd quarter worth $903,000. Callan Family Office LLC bought a new stake in Morningstar in the second quarter worth $846,000. Bank of America Corp DE boosted its position in Morningstar by 11.7% during the first quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider’s stock valued at $31,033,000 after buying an additional 19,264 shares during the period. Engineers Gate Manager LP boosted its position in Morningstar by 182.2% during the second quarter. Engineers Gate Manager LP now owns 39,989 shares of the business services provider’s stock valued at $6,239,000 after buying an additional 25,817 shares during the period. Finally, Fluent Financial LLC boosted its position in Morningstar by 150.0% during the second quarter. Fluent Financial LLC now owns 14,362 shares of the business services provider’s stock valued at $2,241,000 after buying an additional 8,618 shares during the period. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Wall Street Analyst Weigh In

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

Recent Morningstar Headlines

Investors following MORN have been watching these headlines:

• 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

About Morningstar

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.