Spire Wealth Management Has $843,000 Stake in FLEX LNG Ltd. (NYSE:FLNG)

Spire Wealth Management grew its stake in FLEX LNG Ltd. (NYSE:FLNG) by 63.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,494 shares of the company’s stock after purchasing an additional 11,109 shares during the quarter. Spire Wealth Management’s holdings in FLEX LNG were worth $843,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in FLEX LNG by 9.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock valued at $8,580,000 after acquiring an additional 26,521 shares during the period. Vanguard Group Inc. increased its stake in FLEX LNG by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock worth $36,545,000 after purchasing an additional 26,105 shares in the last quarter. SG Americas Securities LLC acquired a new stake in FLEX LNG during the 4th quarter worth approximately $654,000. Jennison Associates LLC bought a new position in FLEX LNG in the fourth quarter valued at approximately $611,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of FLEX LNG in the third quarter valued at approximately $578,000.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group cut shares of FLEX LNG from a “hold” rating to an “underperform” rating and cut their price objective for the company from $32.00 to $23.00 in a research report on Tuesday, February 27th.

FLEX LNG Trading Up 2.3 %

NYSE FLNG opened at $27.60 on Thursday. FLEX LNG Ltd. has a 52 week low of $24.16 and a 52 week high of $33.33. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.86 and a current ratio of 2.89. The stock’s 50 day moving average price is $25.63 and its two-hundred day moving average price is $28.06.

FLEX LNG (NYSE:FLNG) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. FLEX LNG had a net margin of 32.35% and a return on equity of 15.86%. The business had revenue of $97.23 million during the quarter, compared to analysts’ expectations of $98.38 million. During the same quarter in the prior year, the company posted $1.02 earnings per share. As a group, research analysts forecast that FLEX LNG Ltd. will post 2.19 earnings per share for the current year.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.