FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC lessened its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,277 shares of the company’s stock after selling 5,978 shares during the quarter. Naples Global Advisors LLC owned about 0.13% of FLEX LNG worth $1,612,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Financial Life Planners purchased a new stake in FLEX LNG during the 4th quarter worth about $29,000. GAMMA Investing LLC increased its stake in shares of FLEX LNG by 6,254.8% during the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after buying an additional 1,939 shares during the period. WFA Asset Management Corp increased its stake in shares of FLEX LNG by 106.8% during the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company’s stock worth $47,000 after buying an additional 1,068 shares during the period. FMR LLC raised its holdings in FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after acquiring an additional 2,075 shares in the last quarter. Finally, Creative Planning purchased a new position in FLEX LNG in the third quarter worth approximately $206,000.

FLEX LNG Stock Down 0.9 %

FLEX LNG stock opened at $24.72 on Friday. The stock’s fifty day moving average is $23.98 and its two-hundred day moving average is $25.08. The stock has a market cap of $1.33 billion, a PE ratio of 11.34 and a beta of 0.70. FLEX LNG Ltd. has a 1-year low of $20.85 and a 1-year high of $30.48. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.18.

FLEX LNG (NYSE:FLNG) last issued its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the firm posted $0.70 EPS. On average, sell-side analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $3.00 annualized dividend and a dividend yield of 12.14%. FLEX LNG’s dividend payout ratio is presently 137.62%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a research report on Tuesday, February 4th.

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.