Cleveland-Cliffs Inc. (NYSE:CLF) Sees Significant Growth in Short Interest
Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 31,790,000 shares, a growth of 8.0% from the February 29th total of 29,440,000 shares. Approximately 6.5% of the shares of the stock are sold short. Based on […] Cleveland-Cliffs Inc. (NYSE:CLF) saw a significant growth in short interest in March, with 31,790,000 shares, a growth of 8.0% from the previous year's total of 29,440,000. Approximately 6.5% of the shares of the stock are sold short. The short-interest ratio is currently 3.7 days. CEO Lourenco Goncalves sold 187,136 shares of Cleveland-Cliff stock in a transaction on March 6th, valued at $3,778,275. Following the sale, he now owns 534,617 shares in the company. Cleveland-CLiffs was recently cut from a “buy-neutral” rating by Citigroup and has been forecasted a 1.30 quarterly earnings of ($0.05).
公開済み : 一ヶ月前 沿って Defense World Staff の Finance
Cleveland-Cliffs Inc. (NYSE:CLF – Get Free Report) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 31,790,000 shares, a growth of 8.0% from the February 29th total of 29,440,000 shares. Approximately 6.5% of the shares of the stock are sold short. Based on an average daily volume of 8,640,000 shares, the short-interest ratio is currently 3.7 days.
In other Cleveland-Cliffs news, EVP Terry G. Fedor sold 27,430 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total transaction of $553,811.70. Following the sale, the executive vice president now owns 534,617 shares in the company, valued at approximately $10,793,917.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Lourenco Goncalves sold 187,136 shares of Cleveland-Cliffs stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $20.19, for a total value of $3,778,275.84. Following the transaction, the chief executive officer now owns 2,699,089 shares in the company, valued at $54,494,606.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Terry G. Fedor sold 27,430 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $20.19, for a total value of $553,811.70. Following the completion of the transaction, the executive vice president now directly owns 534,617 shares in the company, valued at $10,793,917.23. The disclosure for this sale can be found here. Insiders sold 221,066 shares of company stock valued at $4,464,688 in the last ninety days. Corporate insiders own 1.57% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CLF. Lazard Asset Management LLC boosted its stake in shares of Cleveland-Cliffs by 218.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,088 shares of the mining company’s stock valued at $35,000 after purchasing an additional 746 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Cleveland-Cliffs in the fourth quarter worth about $31,000. Lindbrook Capital LLC raised its position in Cleveland-Cliffs by 83.7% in the fourth quarter. Lindbrook Capital LLC now owns 1,571 shares of the mining company’s stock worth $32,000 after acquiring an additional 716 shares during the period. HighMark Wealth Management LLC purchased a new position in shares of Cleveland-Cliffs in the fourth quarter worth about $35,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Cleveland-Cliffs in the third quarter worth about $29,000. 67.68% of the stock is currently owned by institutional investors and hedge funds.
Cleveland-Cliffs (NYSE:CLF – Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The mining company reported ($0.05) EPS for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $5.11 billion during the quarter, compared to the consensus estimate of $5.16 billion. Cleveland-Cliffs had a net margin of 1.81% and a return on equity of 6.79%. The company’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.30) EPS. Equities research analysts anticipate that Cleveland-Cliffs will post 1.84 EPS for the current year.
A number of brokerages have commented on CLF. TheStreet downgraded Cleveland-Cliffs from a “b-” rating to a “c” rating in a research note on Tuesday, January 30th. Citigroup cut Cleveland-Cliffs from a “buy” rating to a “neutral” rating and set a $22.00 price target on the stock. in a report on Wednesday, March 13th. BNP Paribas downgraded shares of Cleveland-Cliffs from a “neutral” rating to an “underperform” rating and set a $16.50 target price on the stock. in a research note on Wednesday, February 28th. StockNews.com downgraded shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a research note on Wednesday, February 21st. Finally, Argus cut shares of Cleveland-Cliffs from a “buy” rating to a “hold” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $20.30.
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.
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