168,856 Shares in Cleveland-Cliffs Inc. (NYSE:CLF) Bought by Virtu Financial LLC

Virtu Financial LLC purchased a new position in Cleveland-Cliffs Inc. (NYSE:CLF - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 168,856 shares of the mining company's stock, valued at approximately $1,587,000.

A number of other hedge funds also recently bought and sold shares of the business. MRP Capital Investments LLC increased its holdings in shares of Cleveland-Cliffs by 10.0% in the 4th quarter. MRP Capital Investments LLC now owns 11,000 shares of the mining company's stock worth $103,000 after buying an additional 1,000 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Cleveland-Cliffs during the fourth quarter worth approximately $1,147,000. AllSquare Wealth Management LLC raised its position 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 purchasing an additional 1,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Cleveland-Cliffs by 3.6% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 106,907 shares of the mining company's stock valued at $1,005,000 after purchasing an additional 3,735 shares during the last quarter. Finally, Xponance Inc. increased its position in shares of Cleveland-Cliffs by 8.8% during the 4th quarter. Xponance Inc. now owns 68,931 shares of the mining company's stock valued at $648,000 after purchasing an additional 5,596 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company's stock.

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Insiders Place Their Bets

In related news, Director Jane M. Cronin purchased 10,000 shares of the firm's stock in a transaction on Friday, February 28th. The stock was acquired at an average price of $10.56 per share, with a total value of $105,600.00. Following the completion of the acquisition, the director now owns 24,522 shares in the company, valued at approximately $258,952.32. This represents a 68.86 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John T. Baldwin acquired 4,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $8.70 per share, for a total transaction 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 23,500 shares of company stock valued at $243,095. 1.76% of the stock is currently owned by insiders.

Cleveland-Cliffs Stock Up 2.4 %

Shares of NYSE CLF traded up $0.22 during mid-day trading on Thursday, reaching $9.36. 23,501,969 shares of the company were exchanged, compared to its average volume of 12,908,178. The firm has a 50-day moving average of $10.32 and a 200 day moving average of $11.24. Cleveland-Cliffs Inc. has a 1 year low of $8.50 and a 1 year high of $22.97. 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 stock has a market cap of $4.63 billion, a price-to-earnings ratio of -9.64 and a beta of 1.94.

Cleveland-Cliffs (NYSE:CLF - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The mining company reported ($0.68) earnings per share for the quarter, missing analysts' consensus estimates 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%. On average, research analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.