Cleveland-Cliffs Inc. (NYSE:CLF) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its position in Cleveland-Cliffs Inc. (NYSE:CLF) by 18.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 82,700 shares of the mining company’s stock after selling 18,582 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Cleveland-Cliffs were worth $777,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of CLF. US Bancorp DE increased its stake in Cleveland-Cliffs by 6.6% in the 3rd quarter. US Bancorp DE now owns 28,752 shares of the mining company’s stock valued at $367,000 after buying an additional 1,789 shares during the period. GSA Capital Partners LLP increased its stake in Cleveland-Cliffs by 295.9% in the 3rd quarter. GSA Capital Partners LLP now owns 205,461 shares of the mining company’s stock valued at $2,624,000 after buying an additional 153,560 shares during the period. Prime Capital Investment Advisors LLC acquired a new position in Cleveland-Cliffs in the 3rd quarter valued at $263,000. Kovack Advisors Inc. increased its stake in Cleveland-Cliffs by 71.2% in the 3rd quarter. Kovack Advisors Inc. now owns 34,140 shares of the mining company’s stock valued at $436,000 after buying an additional 14,200 shares during the period. Finally, Archer Investment Corp increased its stake in Cleveland-Cliffs by 25.8% in the 3rd quarter. Archer Investment Corp now owns 7,799 shares of the mining company’s stock valued at $100,000 after buying an additional 1,600 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Jane M. Cronin bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $10.56 per share, with a total value of $105,600.00. Following the purchase, the director now owns 24,522 shares of the company’s stock, valued at $258,952.32. This trade represents a 68.86 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Keith Koci bought 9,500 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average cost of $10.81 per share, with a total value of $102,695.00. Following the purchase, the executive vice president now directly owns 543,475 shares in the company, valued at $5,874,964.75. The trade was a 1.78 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 23,500 shares of company stock worth $243,095 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price on shares of Cleveland-Cliffs from $13.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Glj Research decreased their target price on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Citigroup decreased their target price on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group decreased their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $16.43.

Cleveland-Cliffs Price Performance

Cleveland-Cliffs stock opened at $8.71 on Tuesday. Cleveland-Cliffs Inc. has a 52 week low of $8.51 and a 52 week high of $22.97. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $10.39 and its 200 day simple moving average is $11.53. The firm has a market capitalization of $4.30 billion, a PE ratio of -8.97 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The business had revenue of $4.33 billion during the quarter, compared to analysts’ expectations of $4.46 billion. On average, equities research analysts predict that Cleveland-Cliffs Inc. will post -0.79 EPS for the current fiscal year.

Cleveland-Cliffs Company Profile

Cleveland-Cliffs is the largest flat-rolled steel company and the largest iron ore pellet producer in North America. The company is vertically integrated from mining through iron making, steelmaking, rolling, finishing and downstream with hot and cold stamping of steel parts and components. The company was formerly known as Cliffs Natural Resources Inc and changed its name to Cleveland-Cliffs Inc in August 2017.