Atria Wealth Solutions Inc. Acquires 3,187 Shares of Flex LNG Ltd. (NYSE:FLNG)

Atria Wealth Solutions Inc. boosted its holdings in shares of Flex LNG Ltd. (NYSE:FLNG) by 14.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,676 shares of the company’s stock after buying an additional 3,187 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Flex LNG were worth $590,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FLNG. Geode Capital Management LLC increased its stake in shares of Flex LNG by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock worth $8,272,000 after purchasing an additional 3,411 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Flex LNG by 50.2% in the fourth quarter. Wells Fargo & Company MN now owns 66,937 shares of the company’s stock worth $1,536,000 after purchasing an additional 22,358 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Flex LNG by 41.2% in the fourth quarter. Advisory Services Network LLC now owns 13,711 shares of the company’s stock worth $315,000 after purchasing an additional 3,998 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Flex LNG in the fourth quarter worth $3,890,000. Finally, Barclays PLC increased its stake in shares of Flex LNG by 8.4% in the fourth quarter. Barclays PLC now owns 54,280 shares of the company’s stock worth $1,245,000 after purchasing an additional 4,217 shares in the last quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th.

Flex LNG Stock Performance

FLNG opened at $25.60 on Thursday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 13.40 and a beta of 0.41. The company has a fifty day moving average of $23.79 and a 200 day moving average of $23.49. Flex LNG Ltd. has a fifty-two week low of $19.46 and a fifty-two week high of $27.77. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77.

Flex LNG (NYSE:FLNG) last posted its earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. The company had revenue of $88.40 million during the quarter, compared to analysts’ expectations of $87.70 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. As a group, sell-side analysts forecast that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 11.7%. The ex-dividend date of this dividend was Friday, June 6th. Flex LNG’s dividend payout ratio (DPR) is presently 157.07%.

About Flex LNG

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.