R Squared Ltd Acquires Shares of 16,510 Flex LNG Ltd. $FLNG

R Squared Ltd acquired a new stake in Flex LNG Ltd. (NYSE:FLNG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,510 shares of the company’s stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FLNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Flex LNG in the third quarter valued at approximately $28,392,000. Arrowstreet Capital Limited Partnership purchased a new stake in Flex LNG in the third quarter valued at approximately $9,764,000. Dimensional Fund Advisors LP purchased a new stake in Flex LNG in the third quarter valued at approximately $9,497,000. Two Sigma Investments LP lifted its stake in Flex LNG by 834.5% in the third quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock valued at $6,846,000 after buying an additional 242,608 shares during the last quarter. Finally, UBS Group AG increased its holdings in shares of Flex LNG by 43.2% in the third quarter. UBS Group AG now owns 349,084 shares of the company’s stock valued at $8,797,000 after purchasing an additional 105,243 shares during the period.

Flex LNG Trading Up 0.9%

Shares of FLNG stock opened at $31.72 on Wednesday. The business’s fifty day moving average price is $29.69 and its 200 day moving average price is $27.16. Flex LNG Ltd. has a 1-year low of $21.72 and a 1-year high of $31.99. The firm has a market capitalization of $1.72 billion, a PE ratio of 22.82 and a beta of 0.27. The company has a debt-to-equity ratio of 2.42, a current ratio of 3.04 and a quick ratio of 2.98.

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

Flex LNG Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Friday, February 27th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $3.00 annualized dividend and a yield of 9.5%. Flex LNG’s dividend payout ratio is 215.83%.

Analyst Upgrades and Downgrades

FLNG has been the topic of a number of recent research reports. Wall Street Zen lowered Flex LNG from a “hold” rating to a “sell” rating in a report on Saturday, February 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Flex LNG in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.00.

About Flex LNG

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.