Flex LNG Ltd. $FLNG Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its position in Flex LNG Ltd. (NYSE:FLNG) by 0.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,357,632 shares of the company’s stock after selling 448 shares during the period. Vanguard Group Inc. owned approximately 2.52% of Flex LNG worth $31,289,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Trek Financial LLC boosted its stake in shares of Flex LNG by 106.4% in the first quarter. Trek Financial LLC now owns 344,794 shares of the company’s stock worth $7,927,000 after buying an additional 177,711 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of Flex LNG by 45.2% in the first quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company’s stock worth $7,492,000 after buying an additional 101,392 shares during the last quarter. Crestline Management LP purchased a new stake in shares of Flex LNG in the fourth quarter worth about $1,153,000. Janus Henderson Group PLC boosted its stake in shares of Flex LNG by 17.7% in the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock worth $6,717,000 after buying an additional 45,037 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Flex LNG by 10.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company’s stock worth $9,630,000 after buying an additional 39,572 shares during the last quarter.

Analyst Upgrades and Downgrades

FLNG has been the topic of a number of recent analyst reports. Jefferies Financial Group reiterated a “hold” rating and set a $23.00 price target on shares of Flex LNG in a research report on Wednesday, August 20th. Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Two investment 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 Price Performance

NYSE:FLNG opened at $27.18 on Thursday. Flex LNG Ltd. has a one year low of $19.46 and a one year high of $27.54. The company has a debt-to-equity ratio of 2.23, a quick ratio of 2.81 and a current ratio of 2.84. The stock has a market cap of $1.46 billion, a PE ratio of 14.77 and a beta of 0.41. The stock has a 50 day moving average price of $24.17 and a 200 day moving average price of $23.52.

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

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be issued a $0.75 dividend. The ex-dividend date is Friday, September 5th. This represents a $3.00 dividend on an annualized basis and a yield of 11.0%. Flex LNG’s dividend payout ratio (DPR) is 163.04%.

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.