Congress Wealth Management LLC DE Sells 29,655 Shares of Cleveland-Cliffs Inc. (NYSE:CLF)

Congress Wealth Management LLC DE reduced its holdings in shares of Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 65.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,890 shares of the mining company's stock after selling 29,655 shares during the quarter. Congress Wealth Management LLC DE's holdings in Cleveland-Cliffs were worth $149,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CLF. AllSquare Wealth Management LLC grew its holdings 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 worth $48,000 after purchasing an additional 1,000 shares during the period. MRP Capital Investments LLC lifted its position in shares of Cleveland-Cliffs by 10.0% in the fourth quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company's stock valued at $103,000 after buying an additional 1,000 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Cleveland-Cliffs by 21.3% during the 4th quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company's stock worth $63,000 after acquiring an additional 1,182 shares during the period. Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Cleveland-Cliffs by 11.0% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company's stock worth $125,000 after acquiring an additional 1,313 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake 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 valued at $168,000 after acquiring an additional 1,479 shares during the period. 67.68% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, Director John T. Baldwin purchased 4,000 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $8.70 per share, with a total value of $34,800.00. Following the completion of the purchase, the director now owns 133,227 shares in the company, valued at approximately $1,159,074.90. This represents a 3.10 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Keith Koci acquired 9,500 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $10.81 per share, for a total transaction of $102,695.00. Following the completion of the purchase, the executive vice president now owns 543,475 shares of the company's stock, valued at $5,874,964.75. This trade represents a 1.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 23,500 shares of company stock valued at $243,095 over the last 90 days. 1.76% of the stock is owned by insiders.

Cleveland-Cliffs Price Performance

NYSE CLF traded down $1.48 during trading on Thursday, hitting $7.26. 33,406,491 shares of the company's stock were exchanged, compared to its average volume of 13,553,795. The stock's 50 day moving average price is $10.11 and its two-hundred day moving average price is $11.12. Cleveland-Cliffs Inc. has a fifty-two week low of $7.25 and a fifty-two week high of $22.97. The company has a current ratio of 1.85, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a market cap of $3.59 billion, a PE ratio of -7.48 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last posted its earnings results on Monday, February 24th. The mining company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.65) by ($0.03). The firm had revenue of $4.33 billion during the quarter, compared to the consensus estimate of $4.46 billion. Cleveland-Cliffs had a negative net margin of 2.31% and a negative return on equity of 0.59%. Research analysts expect that Cleveland-Cliffs Inc. will post -0.79 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CLF shares. Glj Research decreased their price objective on shares of Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating on the stock in a report on Thursday, February 27th. Citigroup lowered their price target on shares of Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. The Goldman Sachs Group reduced their price objective on Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. B. Riley reaffirmed a "buy" rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price target on Cleveland-Cliffs from $13.00 to $11.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Cleveland-Cliffs has a consensus rating of "Hold" and an average target price of $16.43.

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.