UBS Group AG Buys 137,686 Shares of FLEX LNG Ltd. (NYSE:FLNG)

UBS Group AG lifted its position in FLEX LNG Ltd. (NYSE:FLNG – Get Rating) by 1,501.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,859 shares of the company’s stock after purchasing an additional 137,686 shares during the period. UBS Group AG owned 0.28% of FLEX LNG worth $4,651,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FLNG. JPMorgan Chase & Co. increased its holdings in FLEX LNG by 57.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 420,075 shares of the company’s stock valued at $11,506,000 after purchasing an additional 153,734 shares during the last quarter. Quantbot Technologies LP acquired a new position in FLEX LNG in the second quarter valued at $820,000. Kessler Investment Group LLC acquired a new position in shares of FLEX LNG during the third quarter worth about $114,000. Folketrygdfondet increased its stake in shares of FLEX LNG by 8.2% during the third quarter. Folketrygdfondet now owns 985,365 shares of the company’s stock worth $31,207,000 after acquiring an additional 74,868 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of FLEX LNG during the second quarter worth about $2,675,000. Hedge funds and other institutional investors own 20.60% of the company’s stock.

FLEX LNG Stock Down 0.3 %

Shares of NYSE:FLNG opened at $34.59 on Thursday. FLEX LNG Ltd. has a 52 week low of $19.75 and a 52 week high of $38.24. The company has a debt-to-equity ratio of 1.79, a quick ratio of 2.28 and a current ratio of 2.31. The company’s fifty day moving average is $32.44 and its 200-day moving average is $33.07. The company has a market capitalization of $1.84 billion, a PE ratio of 9.83 and a beta of 0.99.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 7th. Shareholders of record on Thursday, February 23rd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 8.67%. FLEX LNG’s payout ratio is presently 85.23%.

Wall Street Analysts Forecast Growth

FLNG has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $36.00 price target on shares of FLEX LNG in a report on Tuesday, February 14th. Danske lowered shares of FLEX LNG from a “buy” rating to a “hold” rating in a research report on Thursday, February 16th. Finally, Pareto Securities lowered shares of FLEX LNG from a “buy” rating to a “hold” rating in a report on Wednesday, November 16th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $158.00.

About FLEX LNG

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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.