Avantax Advisory Services Inc. Buys 1,309 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Avantax Advisory Services Inc. increased its stake in FLEX LNG Ltd. (NYSE:FLNGGet Rating) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,566 shares of the company’s stock after buying an additional 1,309 shares during the period. Avantax Advisory Services Inc. owned 0.06% of FLEX LNG worth $1,031,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of FLNG. Folketrygdfondet raised its stake in FLEX LNG by 4,750.3% in the second quarter. Folketrygdfondet now owns 910,497 shares of the company’s stock worth $24,939,000 after buying an additional 891,725 shares in the last quarter. Mondrian Investment Partners LTD raised its stake in FLEX LNG by 59.4% in the second quarter. Mondrian Investment Partners LTD now owns 1,679,147 shares of the company’s stock worth $457,400,000 after buying an additional 625,429 shares in the last quarter. State Street Corp bought a new position in FLEX LNG in the second quarter worth about $13,060,000. Goldman Sachs Group Inc. raised its stake in FLEX LNG by 147.7% in the first quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company’s stock worth $9,656,000 after buying an additional 201,876 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in FLEX LNG by 220.6% in 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 period. 20.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FLNG. Pareto Securities cut shares of FLEX LNG from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Danske upgraded shares of FLEX LNG from a “hold” rating to a “buy” rating in a report on Wednesday, November 2nd. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $280.00.

FLEX LNG Trading Up 1.8 %

NYSE:FLNG opened at $32.38 on Friday. The company’s 50 day moving average price is $33.91 and its 200-day moving average price is $32.52. FLEX LNG Ltd. has a 52 week low of $16.65 and a 52 week high of $38.24. The company has a quick ratio of 2.50, a current ratio of 2.54 and a debt-to-equity ratio of 1.80. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 8.00 and a beta of 1.05.

FLEX LNG (NYSE:FLNGGet Rating) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). FLEX LNG had a net margin of 59.26% and a return on equity of 17.90%. The firm had revenue of $91.26 million for the quarter, compared to analysts’ expectations of $91.70 million. On average, equities research analysts forecast that FLEX LNG Ltd. will post 2.52 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Thursday, December 1st were given 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 dividend payout ratio (DPR) is 74.07%.

About FLEX LNG

(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.

Further Reading

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Institutional Ownership by Quarter for FLEX LNG (NYSE:FLNG)

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