168,856 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Acquired by Virtu Financial LLC

Virtu Financial LLC purchased a new position in shares of Cleveland-Cliffs Inc. (NYSE:CLF) during the fourth quarter, HoldingsChannel reports. The firm purchased 168,856 shares of the mining company’s stock, valued at approximately $1,587,000.

A number of other institutional investors have also added to or reduced their stakes in the company. AllSquare Wealth Management LLC raised its stake in Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company’s stock worth $48,000 after buying an additional 1,000 shares during the period. MRP Capital Investments LLC raised its stake in Cleveland-Cliffs by 10.0% during the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company’s stock worth $103,000 after buying an additional 1,000 shares during the period. Jones Financial Companies Lllp raised its stake in Cleveland-Cliffs by 21.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company’s stock worth $63,000 after buying an additional 1,182 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Cleveland-Cliffs by 11.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company’s stock worth $125,000 after buying an additional 1,313 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Cleveland-Cliffs by 9.0% during the 4th quarter. Avantax Advisory Services Inc. now owns 17,848 shares of the mining company’s stock worth $168,000 after buying an additional 1,479 shares during the period. 67.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cleveland-Cliffs

In other news, Director John T. Baldwin acquired 4,000 shares of Cleveland-Cliffs stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, with a total value of $34,800.00. Following the completion of the acquisition, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. This trade represents a 3.10 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jane M. Cronin purchased 10,000 shares of the business’s stock in a transaction dated Friday, February 28th. The stock was bought at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the acquisition, the director now directly owns 24,522 shares of the company’s stock, valued at approximately $258,952.32. This trade represents a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 23,500 shares of company stock valued at $243,095. Company insiders own 1.76% of the company’s stock.

Cleveland-Cliffs Stock Performance

CLF stock opened at $9.45 on Friday. The firm has a market cap of $4.67 billion, a PE ratio of -9.74 and a beta of 1.94. 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 business has a 50 day moving average of $10.38 and a 200-day moving average of $11.29. Cleveland-Cliffs Inc. has a 12-month low of $8.50 and a 12-month high of $22.97.

Cleveland-Cliffs (NYSE:CLF) last announced its quarterly earnings data on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.03). Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. The firm had revenue of $4.33 billion for the quarter, compared to the consensus estimate of $4.46 billion. As a group, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About Cleveland-Cliffs

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.