Atria Wealth Solutions Inc. Increases Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Atria Wealth Solutions Inc. lifted its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 24.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,757 shares of the company’s stock after purchasing an additional 4,601 shares during the period. Atria Wealth Solutions Inc.’s holdings in FLEX LNG were worth $690,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FLNG. Raymond James Financial Services Advisors Inc. increased its position in FLEX LNG by 30.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 29,097 shares of the company’s stock worth $878,000 after buying an additional 6,762 shares in the last quarter. Bank of New York Mellon Corp increased its position in FLEX LNG by 4.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 109,578 shares of the company’s stock worth $3,305,000 after purchasing an additional 4,300 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in FLEX LNG by 37.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,790 shares of the company’s stock valued at $234,000 after purchasing an additional 2,113 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in FLEX LNG by 6.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,747 shares of the company’s stock valued at $8,105,000 after purchasing an additional 16,389 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in FLEX LNG by 32.7% in the 3rd quarter. Principal Financial Group Inc. now owns 10,511 shares of the company’s stock valued at $317,000 after purchasing an additional 2,593 shares in the last quarter.

FLEX LNG Stock Performance

NYSE:FLNG opened at $26.60 on Friday. The firm has a 50 day simple moving average of $25.54 and a 200-day simple moving average of $28.15. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.89 and a quick ratio of 2.86. The firm has a market cap of $1.42 billion, a PE ratio of 11.93 and a beta of 0.76. FLEX LNG Ltd. has a 1-year low of $24.16 and a 1-year high of $33.33.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $97.23 million during 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 in the previous year, the business posted $1.02 earnings per share. On average, equities analysts expect that FLEX LNG Ltd. will post 2.19 EPS for the current year.

FLEX LNG Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Friday, February 23rd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.28%. The ex-dividend date was Thursday, February 22nd. FLEX LNG’s dividend payout ratio is presently 134.53%.

Analyst Ratings Changes

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

FLEX LNG Company 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.