SG Americas Securities LLC Sells 15,362 Shares of FLEX LNG Ltd. (NYSE:FLNG)

SG Americas Securities LLC trimmed its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG – Get Rating) by 40.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,681 shares of the company’s stock after selling 15,362 shares during the period. SG Americas Securities LLC’s holdings in FLEX LNG were worth $718,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Folketrygdfondet boosted its holdings in shares of FLEX LNG by 4,750.3% in the second quarter. Folketrygdfondet now owns 910,497 shares of the company’s stock valued at $24,939,000 after buying an additional 891,725 shares during the period. Mondrian Investment Partners LTD boosted its holdings in shares of FLEX LNG by 59.4% in the second quarter. Mondrian Investment Partners LTD now owns 1,679,147 shares of the company’s stock valued at $457,400,000 after buying an additional 625,429 shares during the period. State Street Corp acquired a new position in shares of FLEX LNG in the second quarter valued at approximately $13,060,000. Goldman Sachs Group Inc. boosted its holdings in FLEX LNG by 147.7% during the first quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company’s stock worth $9,656,000 after purchasing an additional 201,876 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in FLEX LNG by 220.6% during the second quarter. Millennium Management LLC now owns 281,548 shares of the company’s stock worth $7,712,000 after purchasing an additional 193,733 shares during the last quarter. Institutional investors and hedge funds own 20.60% of the company’s stock.

FLEX LNG Trading Up 1.8 %

FLNG stock opened at $32.38 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.50 and a current ratio of 2.54. The company’s 50-day simple moving average is $33.94 and its 200 day simple moving average is $32.48. FLEX LNG Ltd. has a 52 week low of $16.65 and a 52 week high of $38.24. The company has a market capitalization of $1.72 billion, a PE ratio of 8.00 and a beta of 1.05.

FLEX LNG (NYSE:FLNG – Get Rating) last released its quarterly earnings results on Tuesday, November 15th. The company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.01). The business had revenue of $91.26 million during the quarter, compared to analyst estimates of $91.70 million. FLEX LNG had a net margin of 59.26% and a return on equity of 17.90%. As a group, sell-side analysts anticipate that FLEX LNG Ltd. will post 2.52 earnings per share for the current year.

FLEX LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Thursday, December 1st were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 30th. This represents a $3.00 dividend on an annualized basis and a yield of 9.26%. FLEX LNG’s payout ratio is 74.07%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FLNG. Danske upgraded shares of FLEX LNG from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Pareto Securities cut shares of FLEX LNG from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $280.00.

FLEX LNG Profile

(Get Rating)

FLEX LNG Ltd. engages in the operation of carrier vessels. It focuses on the engineering and construction of liquefied natural gas producer units. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in August 2006 and is headquartered in Hamilton, Bermuda.