iSAM Funds UK Ltd Sells 42,395 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

iSAM Funds UK Ltd trimmed its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 63.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,861 shares of the mining company's stock after selling 42,395 shares during the period. iSAM Funds UK Ltd's holdings in Cleveland-Cliffs were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CLF. Barclays PLC raised its position in Cleveland-Cliffs by 232.4% during the third quarter. Barclays PLC now owns 3,113,337 shares of the mining company's stock valued at $39,757,000 after buying an additional 2,176,837 shares during the period. Arkadios Wealth Advisors raised its position in Cleveland-Cliffs by 31.4% during the fourth quarter. Arkadios Wealth Advisors now owns 68,251 shares of the mining company's stock valued at $642,000 after buying an additional 16,300 shares during the period. Janney Montgomery Scott LLC raised its position in Cleveland-Cliffs by 27.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 138,553 shares of the mining company's stock valued at $1,302,000 after buying an additional 29,532 shares during the period. D.B. Root & Company LLC acquired a new position in Cleveland-Cliffs during the fourth quarter valued at $95,000. Finally, Secure Asset Management LLC increased its position in Cleveland-Cliffs by 13.1% in the 4th quarter. Secure Asset Management LLC now owns 31,390 shares of the mining company's stock worth $295,000 after purchasing an additional 3,625 shares during the last quarter. 67.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CLF. Morgan Stanley dropped their target price on 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. B. Riley reaffirmed a "buy" rating and issued a $17.00 target price (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Glj Research dropped their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, The Goldman Sachs Group dropped their target price on Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cleveland-Cliffs currently has a consensus rating of "Hold" and a consensus price target of $14.02.

Insider Buying and Selling

In related news, Director John T. Baldwin acquired 4,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $8.70 per share, for a total transaction of $34,800.00. Following the acquisition, the director now owns 133,227 shares in the company, valued at $1,159,074.90. This trade represents a 3.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Keith Koci acquired 9,500 shares of the business's stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $10.81 per share, with a total value of $102,695.00. Following the transaction, the executive vice president now directly owns 543,475 shares of the company's stock, 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. In the last 90 days, insiders acquired 23,500 shares of company stock valued at $243,095. Insiders own 1.71% of the company's stock.

Cleveland-Cliffs Stock Performance

CLF traded down $0.46 on Friday, hitting $6.52. The company had a trading volume of 45,626,219 shares, compared to its average volume of 15,572,519. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The company's fifty day moving average price is $7.88 and its 200 day moving average price is $9.72. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -6.72 and a beta of 2.03. Cleveland-Cliffs Inc. has a 1-year low of $6.17 and a 1-year high of $17.41.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its earnings results on Wednesday, May 7th. The mining company reported ($0.92) earnings per share for the quarter, missing analysts' consensus estimates of ($0.78) by ($0.14). Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the prior year, the firm earned $0.18 EPS. The firm's revenue was down 11.0% on a year-over-year basis. Equities analysts predict that Cleveland-Cliffs Inc. will post -0.79 earnings per share 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.