Flex LNG Ltd. (NYSE:FLNG) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in Flex LNG Ltd. (NYSE:FLNG) by 8,796.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,608 shares of the company’s stock after purchasing an additional 9,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Flex LNG were worth $221,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FLNG. GAMMA Investing LLC lifted its stake in Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Flex LNG by 465.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $26,000 after buying an additional 941 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Flex LNG by 258.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock valued at $106,000 after buying an additional 3,313 shares during the last quarter. Signaturefd LLC lifted its holdings in Flex LNG by 76.5% in the 4th quarter. Signaturefd LLC now owns 4,941 shares of the company’s stock worth $113,000 after purchasing an additional 2,141 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Flex LNG during the first quarter valued at approximately $215,000.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Flex LNG from a “sell” rating to a “hold” rating in a research note on Saturday, June 28th.

Flex LNG Trading Up 1.7%

Shares of FLNG opened at $22.45 on Friday. Flex LNG Ltd. has a 52-week low of $19.46 and a 52-week high of $27.77. The business’s fifty day moving average is $23.57 and its 200-day moving average is $23.54. 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 firm has a market cap of $1.21 billion, a price-to-earnings ratio of 11.75 and a beta of 0.45.

Flex LNG (NYSE:FLNG) last announced 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 14.83% and a net margin of 29.10%. The company had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. Equities analysts anticipate that Flex LNG Ltd. will post 1.9 EPS for the current fiscal year.

Flex LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.37%. Flex LNG’s dividend payout ratio (DPR) is presently 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.