Morningstar (NASDAQ:MORN) Stock: Insider Joseph Mansueto Sells 6,904 Shares

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,904 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The shares were sold at an average price of $239.63, for a total transaction of $1,654,405.52. Following the transaction, the chairman owned 8,601,679 shares of the company’s stock, valued at approximately $2,061,220,338.77. This represents a 0.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Morningstar, Inc. has a 52 week low of $141.49 and a 52 week high of $248.88. 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 company has a market capitalization of $9.17 billion, a PE ratio of 21.59 and a beta of 0.91. The company has a 50 day moving average price of $208.01 and a two-hundred day moving average price of $186.71.

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

Institutional Trading of Morningstar

Large investors have recently bought and sold shares of the business. Grove Bank & Trust bought a new position in Morningstar in the second quarter valued at approximately $25,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Morningstar in the first quarter valued at approximately $26,000. CENTRAL TRUST Co increased its position in shares of Morningstar by 80.0% during the third quarter. CENTRAL TRUST Co now owns 135 shares of the business services provider’s stock worth $26,000 after acquiring an additional 60 shares in the last quarter. Covestor Ltd increased its position in shares of Morningstar by 41.7% during the third quarter. Covestor Ltd now owns 221 shares of the business services provider’s stock worth $42,000 after acquiring an additional 65 shares in the last quarter. Finally, Fortitude Family Office LLC raised its holdings in shares of Morningstar by 260.0% during the third quarter. Fortitude Family Office LLC now owns 234 shares of the business services provider’s stock worth $44,000 after acquiring an additional 169 shares during the period. 57.02% of the stock is owned by institutional investors.

Key Headlines 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

Wall Street Analysts Forecast Growth

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

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.