GAMMA Investing LLC Has $37,000 Position in Flex LNG Ltd. $FLNG

GAMMA Investing LLC lifted its position in shares of Flex LNG Ltd. (NYSE:FLNG) by 53.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,689 shares of the company’s stock after buying an additional 587 shares during the period. GAMMA Investing LLC’s holdings in Flex LNG were worth $37,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Wyoming acquired a new position in shares of Flex LNG during the first quarter worth about $57,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in Flex LNG during the first quarter worth about $102,000. Exchange Traded Concepts LLC raised its holdings in Flex LNG by 258.2% during the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock worth $106,000 after acquiring an additional 3,313 shares in the last quarter. M&T Bank Corp bought a new stake in Flex LNG during the first quarter worth about $215,000. Finally, Nisa Investment Advisors LLC raised its holdings in Flex LNG by 8,796.3% during the first quarter. Nisa Investment Advisors LLC now owns 9,608 shares of the company’s stock worth $221,000 after acquiring an additional 9,500 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flex LNG in a report on Saturday, September 27th. Jefferies Financial Group reiterated a “hold” rating and set a $23.00 target price on shares of Flex LNG in a report on Wednesday, August 20th. Finally, Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.00.

Flex LNG Price Performance

Shares of NYSE FLNG opened at $25.69 on Friday. The firm has a market cap of $1.38 billion, a P/E ratio of 13.96 and a beta of 0.46. The company has a current ratio of 2.84, a quick ratio of 2.81 and a debt-to-equity ratio of 2.23. Flex LNG Ltd. has a 1-year low of $19.46 and a 1-year high of $27.67. The business’s 50 day moving average is $25.65 and its 200-day moving average is $24.04.

Flex LNG (NYSE:FLNG) last announced its earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The company had revenue of $86.00 million for the quarter, compared to analyst estimates of $82.44 million. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%. Equities research analysts predict 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 was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.7%. Flex LNG’s dividend payout ratio (DPR) is 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.