Congress Wealth Management LLC DE Has $149,000 Position in Cleveland-Cliffs Inc. (NYSE:CLF)

Congress Wealth Management LLC DE lessened its stake in shares of Cleveland-Cliffs Inc. (NYSE:CLF) by 65.1% during the 4th quarter, HoldingsChannel reports. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC lifted its position in shares of Cleveland-Cliffs by 130.0% during 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 during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Cleveland-Cliffs during the fourth quarter worth approximately $44,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Cleveland-Cliffs during the third quarter worth approximately $64,000. 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 worth $48,000 after acquiring an additional 1,000 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Cleveland-Cliffs by 1,190.6% in the fourth quarter. GAMMA Investing LLC now owns 5,330 shares of the mining company’s stock worth $50,000 after acquiring an additional 4,917 shares during the last quarter. Institutional investors own 67.68% of the company’s stock.

Insiders Place Their Bets

In other Cleveland-Cliffs news, Director John T. Baldwin purchased 4,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $8.70 per share, for a total transaction of $34,800.00. Following the transaction, the director now directly 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 purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Jane M. Cronin purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were acquired at an average cost of $10.56 per share, with a total value of $105,600.00. Following the completion of the acquisition, the director now directly owns 24,522 shares in the company, valued at approximately $258,952.32. This represents a 68.86 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, 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 Price Performance

Shares of CLF stock opened at $8.53 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.85 and a quick ratio of 0.55. The stock’s fifty day simple moving average is $10.26 and its 200 day simple moving average is $11.21. Cleveland-Cliffs Inc. has a one year low of $8.48 and a one year high of $22.97. The firm 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) last issued 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 analyst estimates 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, analysts expect that Cleveland-Cliffs Inc. will post -0.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on CLF shares. The Goldman Sachs Group reduced their price target on shares of Cleveland-Cliffs from $17.00 to $15.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Citigroup decreased their target price on Cleveland-Cliffs from $12.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley cut 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. Glj Research decreased their price objective on Cleveland-Cliffs from $14.54 to $12.90 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, B. Riley reissued a “buy” rating on shares of Cleveland-Cliffs in a report on Tuesday, February 4th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Cleveland-Cliffs presently has an average rating of “Hold” and a consensus 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.