Two Sigma Investments LP Lowers Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Two Sigma Investments LP trimmed its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 81.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,658 shares of the company’s stock after selling 84,812 shares during the period. Two Sigma Investments LP’s holdings in FLEX LNG were worth $451,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in FLNG. Crossingbridge Advisors LLC acquired a new position in shares of FLEX LNG during the fourth quarter worth $5,405,000. Raymond James Financial Inc. purchased a new stake in FLEX LNG during the 4th quarter worth $3,890,000. Trek Financial LLC acquired a new position in FLEX LNG in the 4th quarter worth $3,833,000. AlphaCentric Advisors LLC acquired a new position in FLEX LNG in the 4th quarter worth $1,198,000. Finally, Crestline Management LP purchased a new position in FLEX LNG in the 4th quarter valued at about $1,153,000.

FLEX LNG Price Performance

FLNG stock opened at $23.63 on Tuesday. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $28.27. The firm has a 50-day moving average of $23.28 and a two-hundred day moving average of $23.44. The firm has a market capitalization of $1.27 billion, a PE ratio of 10.84 and a beta of 0.48. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. The firm had revenue of $88.40 million during the quarter, compared to analysts’ expectations of $87.70 million. On average, analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 12.70%. FLEX LNG’s dividend payout ratio (DPR) is currently 157.07%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FLNG. Wall Street Zen cut FLEX LNG from a “hold” rating to a “sell” rating in a research note on Friday. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

FLEX LNG Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.