MidWestOne Financial Group Inc. Sells 52,098 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

MidWestOne Financial Group Inc. cut its position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 40.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,571 shares of the mining company's stock after selling 52,098 shares during the quarter. MidWestOne Financial Group Inc.'s holdings in Cleveland-Cliffs were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CLF. Pinpoint Asset Management Ltd purchased a new stake in Cleveland-Cliffs in the 4th quarter worth approximately $25,000. Estabrook Capital Management lifted its stake in Cleveland-Cliffs by 207.7% in the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock worth $38,000 after purchasing an additional 2,700 shares in the last quarter. Byrne Asset Management LLC lifted its stake in Cleveland-Cliffs by 130.0% in the 4th quarter. Byrne Asset Management LLC now owns 4,600 shares of the mining company's stock worth $43,000 after purchasing an additional 2,600 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Cleveland-Cliffs during the 4th quarter valued at $44,000. Finally, AllSquare Wealth Management LLC raised its position in shares of Cleveland-Cliffs by 24.4% during the 4th quarter. AllSquare Wealth Management LLC now owns 5,100 shares of the mining company's stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. 67.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of 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 restated a "buy" rating and set a $17.00 price objective (down previously from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. The Goldman Sachs Group lowered their price objective on shares of Cleveland-Cliffs from $13.00 to $11.25 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Glj Research lowered their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $14.02.

Insiders Place Their Bets

In other Cleveland-Cliffs news, EVP James D. Graham sold 120,000 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $6.85, for a total value of $822,000.00. Following the sale, the executive vice president now owns 492,249 shares of the company's stock, valued at $3,371,905.65. This trade represents a 19.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John T. Baldwin purchased 4,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was purchased at an average cost 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 approximately $1,159,074.90. The trade was a 3.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 23,500 shares of company stock valued at $243,095 in the last quarter. Insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Down 6.5%

CLF stock traded down $0.46 during trading on Friday, hitting $6.52. 45,626,219 shares of the company traded hands, compared to its average volume of 15,572,519. The firm has a market capitalization of $3.22 billion, a PE 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. The company has a 50-day moving average of $7.88 and a 200-day moving average of $9.72. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.55 and a current ratio of 1.85.

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