Joseph Mansueto Sells 6,728 Shares of Morningstar (NASDAQ:MORN) Stock

Morningstar, Inc. (NASDAQ:MORN) Chairman Joseph Mansueto sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $178.33, for a total transaction of $1,199,804.24. Following the completion of the transaction, the chairman owned 8,060,262 shares in the company, valued at $1,437,386,522.46. The trade was a 0.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Morningstar Price Performance

MORN opened at $173.37 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.66. Morningstar, Inc. has a 52-week low of $149.08 and a 52-week high of $316.71. The company has a 50 day moving average of $174.99 and a two-hundred day moving average of $192.15. The company has a market cap of $6.59 billion, a P/E ratio of 17.65 and a beta of 0.99.

Morningstar (NASDAQ:MORN) last issued its earnings results on Wednesday, April 29th. The business services provider reported $3.18 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.77. The business had revenue of $644.80 million for the quarter, compared to the consensus estimate of $626.91 million. Morningstar had a net margin of 16.06% and a return on equity of 33.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on MORN shares. Weiss Ratings lowered Morningstar from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, April 9th. BMO Capital Markets reduced their price target on Morningstar from $257.00 to $193.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 17th. UBS Group set a $280.00 price target on Morningstar in a report on Friday, February 13th. Finally, Wall Street Zen raised shares of Morningstar from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $236.50.

More Morningstar News

Here are the key news stories impacting Morningstar this week:

• Positive Sentiment: Morningstar Credit Analytics launched Corporate Credit Analytics, a new toolset designed to improve transparency and consistency in private credit analysis, which could support subscription and analytics revenue growth. Morningstar Credit Analytics Cuts Through Private Market Opacity with Standardized Corporate Credit Analytics
• Positive Sentiment: The company’s recent quarterly results were better than expected, with earnings and revenue both topping analyst estimates, reinforcing the fundamental case for the stock. Morningstar stock and earnings summary
• Neutral Sentiment: Educational and editorial coverage about Morningstar’s star ratings and other investment content may help brand awareness, but it is unlikely to materially move the shares. Morningstar Star Ratings Explained: How to Use Them to Pick Stocks
• Negative Sentiment: Chairman Joseph D. Mansueto sold additional shares under a pre-arranged trading plan, adding to a recent pattern of insider sales that some investors may view cautiously. SEC filing for Joseph D. Mansueto sale
• Negative Sentiment: CFO Michael Holt also sold a small number of shares recently, reinforcing the insider-selling narrative, though the size was limited. SEC filing for Michael Holt sale

Institutional Trading of Morningstar

A number of hedge funds and other institutional investors have recently modified their holdings of MORN. Bank of America Corp DE lifted its stake in shares of Morningstar by 11.7% in the first quarter. Bank of America Corp DE now owns 183,575 shares of the business services provider’s stock worth $31,033,000 after acquiring an additional 19,264 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Morningstar by 56.1% during the first quarter. Janus Henderson Group PLC now owns 89,885 shares of the business services provider’s stock worth $15,199,000 after buying an additional 32,296 shares in the last quarter. Amundi increased its stake in shares of Morningstar by 27.0% in the first quarter. Amundi now owns 1,775 shares of the business services provider’s stock worth $300,000 after buying an additional 377 shares during the last quarter. California State Teachers Retirement System raised its holdings in Morningstar by 15.8% in the first quarter. California State Teachers Retirement System now owns 29,423 shares of the business services provider’s stock valued at $4,974,000 after acquiring an additional 4,016 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Morningstar by 156.9% during the 1st quarter. Royal Bank of Canada now owns 22,471 shares of the business services provider’s stock valued at $3,797,000 after acquiring an additional 13,724 shares during the last quarter. 57.02% of the stock is owned by hedge funds and other institutional investors.

Morningstar Company Profile

Morningstar, Inc is a leading provider of independent investment research, data, and analytics, serving both individual investors and financial professionals. The company offers comprehensive coverage of financial products, including mutual funds, exchange-traded funds (ETFs), stocks, bonds and market indexes. Morningstar’s proprietary rating systems and research methodologies help clients assess the risk and return profiles of investment opportunities and make informed decisions.

Its core products include Morningstar Direct, an institutional investment analysis platform; Morningstar Office Cloud, a portfolio management solution for advisors; and Morningstar Data, which delivers extensive datasets through APIs and data feeds.