FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 46.4% during the fourth quarter, HoldingsChannel reports. The firm owned 8,100 shares of the company’s stock after selling 7,008 shares during the quarter. Sigma Planning Corp’s holdings in FLEX LNG were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in FLEX LNG by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock valued at $36,545,000 after purchasing an additional 26,105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in FLEX LNG by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock valued at $8,580,000 after purchasing an additional 26,521 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of FLEX LNG by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 109,578 shares of the company’s stock worth $3,305,000 after acquiring an additional 4,300 shares during the period. Naples Global Advisors LLC increased its stake in shares of FLEX LNG by 0.7% in the fourth quarter. Naples Global Advisors LLC now owns 49,110 shares of the company’s stock worth $1,427,000 after acquiring an additional 360 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of FLEX LNG by 57.0% in the third quarter. New York State Common Retirement Fund now owns 48,542 shares of the company’s stock worth $1,464,000 after acquiring an additional 17,617 shares during the period.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered shares of FLEX LNG from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $32.00 to $23.00 in a research note on Tuesday, February 27th.

FLEX LNG Stock Performance

NYSE:FLNG opened at $26.15 on Monday. FLEX LNG Ltd. has a 1-year low of $24.16 and a 1-year high of $34.66. The company’s fifty day moving average price is $25.51 and its 200-day moving average price is $28.26. The company has a current ratio of 2.89, a quick ratio of 2.86 and a debt-to-equity ratio of 2.02.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.67 by $0.03. The company had revenue of $97.23 million for the quarter, compared to analyst estimates of $98.38 million. FLEX LNG had a net margin of 32.35% and a return on equity of 15.86%. During the same quarter last year, the business earned $1.02 earnings per share. As a group, analysts anticipate that FLEX LNG Ltd. will post 2.19 EPS for the current year.

FLEX LNG Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $3.00 annualized dividend and a yield of 11.47%. FLEX LNG’s dividend payout ratio is presently 134.53%.

FLEX LNG Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.