Flex LNG Ltd. $FLNG Holdings Cut by Swiss National Bank

Swiss National Bank trimmed its position in shares of Flex LNG Ltd. (NYSE:FLNG) by 0.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,001 shares of the company’s stock after selling 447 shares during the quarter. Swiss National Bank owned approximately 0.12% of Flex LNG worth $1,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Flex LNG by 69.0% during the 1st quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock worth $25,000 after buying an additional 450 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Flex LNG during the first quarter worth $102,000. Exchange Traded Concepts LLC increased its stake in Flex LNG by 258.2% in the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock valued at $106,000 after acquiring an additional 3,313 shares during the period. M&T Bank Corp bought a new stake in shares of Flex LNG in the 1st quarter valued at approximately $215,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Flex LNG by 8,796.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,608 shares of the company’s stock worth $221,000 after buying an additional 9,500 shares during the period.

Wall Street Analysts Forecast Growth

FLNG has been the subject of a number of recent analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of Flex LNG in a report on Wednesday, August 20th. Wall Street Zen raised shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.00.

Flex LNG Stock Performance

Shares of FLNG opened at $26.8150 on Monday. The company has a debt-to-equity ratio of 2.23, a current ratio of 2.84 and a quick ratio of 2.81. Flex LNG Ltd. has a one year low of $19.46 and a one year high of $27.77. The firm has a 50-day moving average of $24.02 and a 200-day moving average of $23.46. The company has a market cap of $1.44 billion, a PE ratio of 14.57 and a beta of 0.41.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. The firm had revenue of $86.00 million for the quarter, compared to analysts’ expectations of $82.44 million. As a group, equities analysts forecast that Flex LNG Ltd. will post 1.9 earnings per share for the current year.

Flex LNG Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend is Friday, September 5th. Flex LNG’s dividend payout ratio is presently 163.04%.

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.