De Lisle Partners LLP Has $197,000 Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Key Points

• De Lisle Partners LLP reduced its stake in Cleveland-Cliffs Inc. by 67.6%, owning 24,000 shares after selling 50,000 shares during the first quarter.
• Multiple institutional investors, including LPL Financial LLC and MRP Capital Investments LLC, have increased their holdings in Cleveland-Cliffs, indicating a shift in investor sentiment.
• Cleveland-Cliffs reported a quarterly EPS of ($0.50), exceeding analysts' expectations and showing a 7.5% increase in revenue compared to the previous year.

De Lisle Partners LLP lessened its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 67.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,000 shares of the mining company's stock after selling 50,000 shares during the quarter. De Lisle Partners LLP's holdings in Cleveland-Cliffs were worth $197,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Slate Path Capital LP boosted its position in shares of Cleveland-Cliffs by 35.4% in the fourth quarter. Slate Path Capital LP now owns 16,208,000 shares of the mining company's stock valued at $152,355,000 after acquiring an additional 4,239,000 shares during the period. Vanguard Group Inc. lifted its position in Cleveland-Cliffs by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 48,751,789 shares of the mining company's stock worth $458,267,000 after purchasing an additional 2,556,332 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Cleveland-Cliffs by 22.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,298,868 shares of the mining company's stock worth $12,209,000 after purchasing an additional 242,386 shares during the period. Twelve Points Wealth Management LLC lifted its position in Cleveland-Cliffs by 51.7% during the first quarter. Twelve Points Wealth Management LLC now owns 225,499 shares of the mining company's stock worth $1,854,000 after purchasing an additional 76,827 shares during the period. Finally, Wexford Capital LP lifted its position in Cleveland-Cliffs by 1,212.0% during the fourth quarter. Wexford Capital LP now owns 1,018,950 shares of the mining company's stock worth $9,578,000 after purchasing an additional 941,284 shares during the period. Institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Trading Down 4.4%

NYSE CLF traded down $0.46 during trading hours on Friday, reaching $10.06. The company's stock had a trading volume of 19,972,247 shares, compared to its average volume of 25,902,037. The firm has a fifty day simple moving average of $8.35 and a 200-day simple moving average of $8.86. The stock has a market cap of $4.98 billion, a P/E ratio of -2.95 and a beta of 1.91. Cleveland-Cliffs Inc. has a 52 week low of $5.63 and a 52 week high of $14.38. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.04 and a quick ratio of 0.61.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last issued its quarterly earnings data on Monday, July 21st. The mining company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.68) by $0.18. The business had revenue of $4.93 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. Equities analysts forecast that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at Cleveland-Cliffs

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $6.85, for a total transaction of $822,000.00. Following the completion of the transaction, the executive vice president owned 492,249 shares in the company, valued at approximately $3,371,905.65. This trade represents a 19.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CLF shares. Morgan Stanley upped their price objective on shares of Cleveland-Cliffs from $8.00 to $10.50 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. The Goldman Sachs Group cut their price objective on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating for the company in a research report on Monday, May 12th. Citigroup upped their price objective on shares of Cleveland-Cliffs from $7.50 to $11.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. KeyCorp raised shares of Cleveland-Cliffs from a "sector weight" rating to an "overweight" rating and set a $14.00 price objective for the company in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Cleveland-Cliffs from $7.50 to $10.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cleveland-Cliffs has an average rating of "Hold" and an average target price of $11.09.

Cleveland-Cliffs 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.