Nisa Investment Advisors LLC Has $121,000 Position in Flex LNG Ltd. $FLNG

Nisa Investment Advisors LLC reduced its stake in Flex LNG Ltd. (NYSE:FLNG) by 42.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,503 shares of the company’s stock after selling 4,105 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Flex LNG were worth $121,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLNG. GAMMA Investing LLC lifted its holdings in Flex LNG by 69.0% in the 1st 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. CWM LLC lifted its holdings in Flex LNG by 94.3% in the 2nd quarter. CWM LLC now owns 2,201 shares of the company’s stock worth $48,000 after purchasing an additional 1,068 shares during the last quarter. State of Wyoming acquired a new stake in Flex LNG in the 1st quarter worth approximately $57,000. Whipplewood Advisors LLC increased its position in Flex LNG by 9,185.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 3,250 shares of the company’s stock worth $71,000 after buying an additional 3,215 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Flex LNG during the first quarter worth approximately $102,000.

Flex LNG Stock Performance

FLNG opened at $25.65 on Wednesday. The stock has a market cap of $1.38 billion, a PE ratio of 13.94 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 stock’s 50 day simple moving average is $25.49 and its 200-day simple moving average is $24.54.

Flex LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, August 20th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $86.00 million for 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%. Sell-side analysts forecast that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were given 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 payout ratio is currently 163.04%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Friday, August 22nd. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price target on shares of Flex LNG in a report on Wednesday, August 20th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Flex LNG in a report on Wednesday, October 8th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, Flex LNG currently has an average rating of “Hold” and a consensus price target of $23.00.

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.