GAMMA Investing LLC Raises Holdings in Flex LNG Ltd. (NYSE:FLNG)

GAMMA Investing LLC raised its holdings in shares of Flex LNG Ltd. (NYSE:FLNG) by 3,785.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,335 shares of the company’s stock after buying an additional 24,683 shares during the period. GAMMA Investing LLC’s holdings in Flex LNG were worth $582,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FLNG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Flex LNG by 33.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,192 shares of the company’s stock worth $601,000 after buying an additional 6,595 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Flex LNG in the 4th quarter valued at about $477,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Flex LNG by 10.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company’s stock valued at $9,630,000 after buying an additional 39,572 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Flex LNG by 17.7% in the 4th quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock worth $6,717,000 after purchasing an additional 45,037 shares in the last quarter. Finally, Graham Capital Management L.P. acquired a new stake in shares of Flex LNG during the 4th quarter worth approximately $385,000.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a report on Friday, June 6th.

Flex LNG Stock Down 0.8%

Flex LNG stock opened at $24.37 on Thursday. Flex LNG Ltd. has a fifty-two week low of $19.46 and a fifty-two week high of $28.27. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77. The company has a market capitalization of $1.31 billion, a P/E ratio of 12.76 and a beta of 0.48. The stock has a 50-day simple moving average of $23.73 and a 200-day simple moving average of $23.43.

Flex LNG (NYSE:FLNG) last released its earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $88.40 million for the quarter, compared to analysts’ expectations of $87.70 million. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. Equities research analysts expect that Flex LNG Ltd. will post 1.9 earnings per share for the current year.

Flex LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.31%. The ex-dividend date of this dividend is Friday, June 6th. Flex LNG’s dividend payout ratio is currently 157.07%.

Flex LNG Company 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.