Kestra Private Wealth Services LLC Decreases Stock Holdings in Cleveland-Cliffs Inc. (NYSE:CLF)

Kestra Private Wealth Services LLC lowered its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 137,730 shares of the mining company's stock after selling 22,400 shares during the period. Kestra Private Wealth Services LLC's holdings in Cleveland-Cliffs were worth $1,132,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Avantax Advisory Services Inc. boosted its holdings in Cleveland-Cliffs by 9.0% in 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. Corient Private Wealth LLC boosted its holdings in Cleveland-Cliffs by 27.2% in the 4th quarter. Corient Private Wealth LLC now owns 16,362 shares of the mining company's stock worth $154,000 after buying an additional 3,495 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Cleveland-Cliffs by 3.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 113,897 shares of the mining company's stock worth $1,071,000 after buying an additional 3,940 shares during the period. Xponance Inc. boosted its holdings in Cleveland-Cliffs by 8.8% in the 4th quarter. Xponance Inc. now owns 68,931 shares of the mining company's stock worth $648,000 after buying an additional 5,596 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Cleveland-Cliffs by 3.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 106,907 shares of the mining company's stock worth $1,005,000 after buying an additional 3,735 shares during the period. Hedge funds and other institutional investors own 67.68% of the company's stock.

Insider Activity

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $6.85, for a total value of $822,000.00. Following the transaction, the executive vice president owned 492,249 shares in the company, valued at approximately $3,371,905.65. The trade was a 19.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.71% of the company's stock.

Analyst Upgrades and Downgrades

CLF has been the subject of several analyst reports. KeyCorp raised shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price target for the company in a report on Tuesday, July 22nd. Citigroup raised their price target on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the company a "neutral" rating in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on shares of Cleveland-Cliffs from $7.50 to $10.00 and gave the company a "neutral" rating in a report on Thursday. Glj Research downgraded shares of Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 price target for the company. in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group cut their price target on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $11.09.

Cleveland-Cliffs Trading Up 4.8%

Cleveland-Cliffs stock traded up $0.53 during mid-day trading on Friday, hitting $11.44. The company's stock had a trading volume of 28,309,127 shares, compared to its average volume of 30,815,626. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 0.64. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of -3.35 and a beta of 1.91. The business has a 50 day moving average price of $8.06 and a 200-day moving average price of $8.83. Cleveland-Cliffs Inc. has a 12 month low of $5.63 and a 12 month high of $15.71.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its quarterly earnings results on Monday, July 21st. The mining company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.68) by $0.18. The business had revenue of $4.93 billion during the quarter, compared to the consensus estimate of $4.90 billion. Cleveland-Cliffs had a negative net margin of 9.03% and a negative return on equity of 17.97%. The firm's revenue for the quarter was up 7.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 earnings per share. As a group, analysts forecast that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

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.