Hussman Strategic Advisors Inc. Invests $1.05 Million in Flex LNG Ltd. $FLNG

Hussman Strategic Advisors Inc. bought a new stake in shares of Flex LNG Ltd. (NYSE:FLNG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,000 shares of the company’s stock, valued at approximately $1,048,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. TrueMark Investments LLC acquired a new stake in Flex LNG during the fourth quarter valued at approximately $1,552,000. Tred Avon Family Wealth LLC acquired a new stake in Flex LNG during the third quarter valued at approximately $697,000. R Squared Ltd acquired a new stake in Flex LNG during the fourth quarter valued at approximately $412,000. CWM LLC lifted its stake in Flex LNG by 42.0% during the third quarter. CWM LLC now owns 3,126 shares of the company’s stock valued at $79,000 after purchasing an additional 925 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Flex LNG by 119.8% during the third quarter. Nisa Investment Advisors LLC now owns 12,093 shares of the company’s stock valued at $305,000 after purchasing an additional 6,590 shares during the last quarter.

Flex LNG Stock Down 0.1%

FLNG stock opened at $32.30 on Monday. Flex LNG Ltd. has a 52-week low of $21.72 and a 52-week high of $32.55. The company’s 50 day simple moving average is $29.89 and its 200-day simple moving average is $27.27. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.04 and a quick ratio of 2.98. The firm has a market capitalization of $1.75 billion, a P/E ratio of 23.24 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.18). Flex LNG had a net margin of 21.52% and a return on equity of 13.46%. The firm had revenue of $87.54 million for the quarter, compared to analyst estimates of $86.75 million.

Flex LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 27th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, February 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.3%. Flex LNG’s payout ratio is currently 215.83%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a research note on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Flex LNG presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.