Wealth Enhancement Advisory Services LLC Has $1.48 Million Stake in Cleveland-Cliffs Inc. (NYSE:CLF)

Wealth Enhancement Advisory Services LLC reduced its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 24.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,802 shares of the mining company's stock after selling 50,968 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Cleveland-Cliffs were worth $1,483,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CLF. Pinpoint Asset Management Ltd acquired a new position in shares of Cleveland-Cliffs during the fourth quarter valued at approximately $25,000. Estabrook Capital Management increased its position in shares of Cleveland-Cliffs by 207.7% during the 4th quarter. Estabrook Capital Management now owns 4,000 shares of the mining company's stock valued at $38,000 after purchasing an additional 2,700 shares during the period. Byrne Asset Management LLC raised its stake in shares of 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 buying an additional 2,600 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Cleveland-Cliffs in the fourth quarter valued at $44,000. Finally, AllSquare Wealth Management LLC boosted its stake in Cleveland-Cliffs by 24.4% during the fourth 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. Institutional investors own 67.68% of the company's stock.

Insider Buying and Selling

In other news, EVP James D. Graham sold 120,000 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $6.85, for a total value of $822,000.00. Following the transaction, the executive vice president now owns 492,249 shares in the company, valued at $3,371,905.65. This represents a 19.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.71% of the company's stock.

Cleveland-Cliffs Trading Up 1.9%

Shares of Cleveland-Cliffs stock traded up $0.15 during trading on Monday, hitting $7.75. The stock had a trading volume of 43,935,638 shares, compared to its average volume of 17,575,637. Cleveland-Cliffs Inc. has a 1 year low of $5.63 and a 1 year high of $16.47. The stock has a 50 day simple moving average of $7.42 and a 200 day simple moving average of $9.35. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $3.83 billion, a PE ratio of -7.98 and a beta of 1.85.

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

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. B. Riley reiterated a "buy" rating and issued a $17.00 price target (down from $20.00) on shares of Cleveland-Cliffs in a research report on Wednesday, April 23rd. Glj Research downgraded shares of Cleveland-Cliffs from a "strong-buy" rating to a "strong sell" rating and set a $3.91 target price on the stock. in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group reduced their target price 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 equities research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $12.74.

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.