Cleveland-Cliffs Inc. (NYSE:CLF) Shares Bought by Easterly Investment Partners LLC

Easterly Investment Partners LLC increased its holdings in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) by 491.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,280,725 shares of the mining company's stock after acquiring an additional 1,064,308 shares during the period. Easterly Investment Partners LLC owned approximately 0.26% of Cleveland-Cliffs worth $12,039,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CLF. AllSquare Wealth Management LLC grew its stake in shares of Cleveland-Cliffs by 24.4% in 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. MRP Capital Investments LLC grew its position in Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company's stock valued at $103,000 after acquiring an additional 1,000 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Cleveland-Cliffs by 21.3% during the fourth quarter. Jones Financial Companies Lllp now owns 6,723 shares of the mining company's stock worth $63,000 after purchasing an additional 1,182 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Cleveland-Cliffs by 11.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 13,270 shares of the mining company's stock worth $125,000 after purchasing an additional 1,313 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its position in shares of Cleveland-Cliffs by 9.0% during the fourth quarter. Avantax Advisory Services Inc. now owns 17,848 shares of the mining company's stock worth $168,000 after purchasing an additional 1,479 shares in the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

Cleveland-Cliffs Stock Down 8.6 %

Cleveland-Cliffs stock traded down $0.80 during mid-day trading on Friday, hitting $8.53. The company had a trading volume of 31,119,879 shares, compared to its average volume of 13,221,243. The company has a quick ratio of 0.55, a current ratio of 1.85 and a debt-to-equity ratio of 0.53. Cleveland-Cliffs Inc. has a 1 year low of $8.48 and a 1 year high of $22.97. The business has a fifty day moving average of $10.26 and a 200 day moving average of $11.21. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of -8.79 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last announced its quarterly 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 company had revenue of $4.33 billion for the quarter, compared to analyst estimates of $4.46 billion. Cleveland-Cliffs had a negative return on equity of 0.59% and a negative net margin of 2.31%. On average, sell-side analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CLF. The Goldman Sachs Group cut their target price on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Citigroup reduced their price objective on Cleveland-Cliffs from $12.50 to $11.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Glj Research lowered their target price on Cleveland-Cliffs from $14.54 to $12.90 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley reduced their price target on 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. Finally, B. Riley reissued a "buy" rating on shares of Cleveland-Cliffs in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.43.

Insider Activity

In other Cleveland-Cliffs news, EVP Keith Koci acquired 9,500 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average cost of $10.81 per share, with a total value of $102,695.00. Following the transaction, the executive vice president now owns 543,475 shares of the company's stock, valued at approximately $5,874,964.75. This trade represents a 1.78 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John T. Baldwin bought 4,000 shares of Cleveland-Cliffs stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $8.70 per share, with a total value of $34,800.00. Following the completion of the acquisition, the director now directly owns 133,227 shares of the company's stock, valued at approximately $1,159,074.90. The trade was a 3.10 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 23,500 shares of company stock valued at $243,095. Insiders own 1.76% of the company's stock.

Cleveland-Cliffs Company 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.