Walleye Capital LLC Purchases 6,917 Shares of Flex Ltd. (NASDAQ:FLEX)

Walleye Capital LLC increased its position in Flex Ltd. (NASDAQ:FLEXGet Rating) by 11.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,969 shares of the technology company’s stock after buying an additional 6,917 shares during the quarter. Walleye Capital LLC’s holdings in Flex were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Gabelli Funds LLC lifted its position in Flex by 15.3% in the 1st quarter. Gabelli Funds LLC now owns 362,728 shares of the technology company’s stock worth $6,729,000 after buying an additional 48,100 shares during the last quarter. Royal Bank of Canada lifted its position in Flex by 11.6% in the first quarter. Royal Bank of Canada now owns 279,468 shares of the technology company’s stock valued at $5,184,000 after purchasing an additional 29,027 shares during the last quarter. Sessa Capital IM L.P. lifted its position in Flex by 66.4% in the first quarter. Sessa Capital IM L.P. now owns 2,500,000 shares of the technology company’s stock valued at $46,375,000 after purchasing an additional 997,292 shares during the last quarter. Delphia USA Inc. bought a new stake in Flex in the first quarter valued at approximately $240,000. Finally, Eaton Vance Management lifted its position in Flex by 21.5% in the first quarter. Eaton Vance Management now owns 141,717 shares of the technology company’s stock valued at $2,629,000 after purchasing an additional 25,121 shares during the last quarter. Institutional investors own 95.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com upgraded Flex from a “hold” rating to a “buy” rating in a research report on Saturday, August 6th. Credit Suisse Group initiated coverage on Flex in a research note on Tuesday, August 16th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on Flex from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st.

Flex Price Performance

Shares of FLEX stock opened at $17.74 on Monday. The stock has a market cap of $8.09 billion, a price-to-earnings ratio of 9.19, a PEG ratio of 0.76 and a beta of 1.49. The business’s fifty day moving average is $17.17 and its 200 day moving average is $16.65. Flex Ltd. has a twelve month low of $13.63 and a twelve month high of $19.63. The company has a quick ratio of 0.68, a current ratio of 1.31 and a debt-to-equity ratio of 0.76.

Insider Buying and Selling

In related news, EVP David Scott Offer sold 120,000 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $19.19, for a total value of $2,302,800.00. Following the sale, the executive vice president now directly owns 262,164 shares of the company’s stock, valued at $5,030,927.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Paul Lundstrom sold 56,868 shares of the stock in a transaction on Friday, September 16th. The stock was sold at an average price of $17.64, for a total value of $1,003,151.52. Following the sale, the chief financial officer now directly owns 326,798 shares of the company’s stock, valued at $5,764,716.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP David Scott Offer sold 120,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $19.19, for a total value of $2,302,800.00. Following the completion of the sale, the executive vice president now directly owns 262,164 shares in the company, valued at $5,030,927.16. The disclosure for this sale can be found here. Insiders have sold a total of 183,523 shares of company stock valued at $3,403,048 over the last ninety days. Company insiders own 0.54% of the company’s stock.

About Flex

(Get Rating)

Flex Ltd. provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers in Asia, the Americas, and Europe. It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker. The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

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Institutional Ownership by Quarter for Flex (NASDAQ:FLEX)

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