Flex LNG Ltd. $FLNG Shares Sold by UBS Group AG

UBS Group AG lowered its holdings in Flex LNG Ltd. (NYSE:FLNG) by 11.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,189 shares of the company’s stock after selling 38,895 shares during the period. UBS Group AG owned about 0.58% of Flex LNG worth $7,739,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TrueMark Investments LLC acquired a new position in Flex LNG in the fourth quarter worth approximately $1,552,000. Tred Avon Family Wealth LLC acquired a new stake in shares of Flex LNG during the 3rd quarter valued at $697,000. CWM LLC boosted its stake in shares of Flex LNG by 42.0% during the 3rd quarter. CWM LLC now owns 3,126 shares of the company’s stock worth $79,000 after acquiring an additional 925 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Flex LNG during the 3rd quarter worth $260,000. Finally, Regal Partners Ltd acquired a new position in shares of Flex LNG in the 3rd quarter worth $264,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FLNG. Pareto Securities downgraded Flex LNG from a “buy” rating to a “sell” rating in a report on Wednesday, May 13th. Wall Street Zen cut Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, February 7th. Weiss Ratings restated a “hold (c)” rating on shares of Flex LNG in a report on Friday, April 10th. Finally, Kepler Capital Markets set a $25.00 price objective on shares of Flex LNG and gave the company a “reduce” rating in a research note on Thursday. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Flex LNG currently has an average rating of “Reduce” and an average price target of $24.00.

Flex LNG Trading Up 0.7%

NYSE FLNG opened at $32.37 on Tuesday. The firm’s 50 day moving average price is $30.73 and its two-hundred day moving average price is $27.78. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.69 and a current ratio of 2.72. Flex LNG Ltd. has a twelve month low of $21.72 and a twelve month high of $33.40. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 23.12 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last released its earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The business had revenue of $80.46 million during the quarter, compared to analysts’ expectations of $80.35 million. Flex LNG had a net margin of 22.26% and a return on equity of 12.15%.

Flex LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.3%. The ex-dividend date of this dividend is Friday, May 29th. Flex LNG’s payout ratio is 214.29%.

Flex LNG 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.