78,192 Shares in Cleveland-Cliffs Inc. $CLF Purchased by Marshall Financial Group LLC

Marshall Financial Group LLC purchased a new stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 78,192 shares of the mining company’s stock, valued at approximately $1,038,000.

A number of other hedge funds have also recently bought and sold shares of CLF. Strengthening Families & Communities LLC raised its stake in shares of Cleveland-Cliffs by 4,315.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 1,987 shares of the mining company’s stock worth $25,000 after purchasing an additional 1,942 shares in the last quarter. Larson Financial Group LLC boosted its holdings in shares of Cleveland-Cliffs by 819.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,684 shares of the mining company’s stock valued at $33,000 after buying an additional 2,392 shares during the last quarter. Deseret Mutual Benefit Administrators grew its stake in shares of Cleveland-Cliffs by 72.6% in the third quarter. Deseret Mutual Benefit Administrators now owns 2,768 shares of the mining company’s stock valued at $34,000 after buying an additional 1,164 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Cleveland-Cliffs in the second quarter valued at $40,000. Finally, Westfuller Advisors LLC acquired a new position in Cleveland-Cliffs during the third quarter worth $68,000. 67.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CLF has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Cleveland-Cliffs from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Thursday. KeyCorp lowered shares of Cleveland-Cliffs from an “overweight” rating to a “sector weight” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Cleveland-Cliffs in a report on Tuesday, January 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $15.00 target price on shares of Cleveland-Cliffs in a research note on Monday, February 9th. Finally, Glj Research reiterated a “sell” rating and set a $9.42 price target on shares of Cleveland-Cliffs in a report on Monday, March 16th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cleveland-Cliffs currently has a consensus rating of “Hold” and a consensus target price of $13.59.

Insider Activity at Cleveland-Cliffs

In other Cleveland-Cliffs news, CEO Lourenco Goncalves sold 3,000,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $12.42, for a total value of $37,260,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edilson Camara acquired 19,700 shares of the business’s stock in a transaction on Friday, February 13th. The shares were bought at an average price of $10.13 per share, with a total value of $199,561.00. Following the completion of the transaction, the director directly owned 41,983 shares of the company’s stock, valued at approximately $425,287.79. The trade was a 88.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.76% of the stock is owned by company insiders.

Cleveland-Cliffs Trading Down 4.6%

Shares of Cleveland-Cliffs stock opened at $7.80 on Monday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.95 and a quick ratio of 0.50. The business has a fifty day simple moving average of $11.74 and a two-hundred day simple moving average of $12.21. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $16.70. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of -2.67 and a beta of 1.99.

Cleveland-Cliffs (NYSE:CLF) last released its quarterly earnings data on Monday, February 9th. The mining company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.62) by $0.19. The firm had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.60 billion. Cleveland-Cliffs had a negative net margin of 7.91% and a negative return on equity of 18.94%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.68) earnings per share. Research analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

About Cleveland-Cliffs

Cleveland-Cliffs Inc is a leading North American producer of iron ore pellets and flat-rolled steel products. Tracing its roots to 1847, the company has evolved from an iron-ore mining concern in the Great Lakes region into a fully integrated steelmaker. Today, Cleveland-Cliffs operates iron ore mining complexes in Michigan and Minnesota as well as steelmaking and finishing facilities across the United States.

The company’s integrated platform begins with direct control of key raw materials, including iron ore and scrap, and extends through every stage of steel production.