Naples Global Advisors LLC Trims Stake in FLEX LNG Ltd. (NYSE:FLNG)

Naples Global Advisors LLC lessened its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 7.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 70,277 shares of the company’s stock after selling 5,978 shares during the quarter. Naples Global Advisors LLC’s holdings in FLEX LNG were worth $1,612,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of FLEX LNG by 6.3% during the second quarter. The Manufacturers Life Insurance Company now owns 10,935 shares of the company’s stock worth $296,000 after acquiring an additional 652 shares during the last quarter. GAMMA Investing LLC boosted its stake in FLEX LNG by 6,254.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock worth $50,000 after purchasing an additional 1,939 shares during the period. Creative Planning purchased a new position in FLEX LNG during the 3rd quarter worth $206,000. Apollon Wealth Management LLC acquired a new position in FLEX LNG in the third quarter valued at $240,000. Finally, Jennison Associates LLC purchased a new stake in shares of FLEX LNG in the third quarter valued at about $1,460,000.

FLEX LNG Trading Down 0.9 %

Shares of FLNG stock opened at $24.72 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of 11.34 and a beta of 0.70. The company has a current ratio of 2.99, a quick ratio of 2.18 and a debt-to-equity ratio of 2.11. The business’s 50 day moving average is $23.98 and its two-hundred day moving average is $25.08. FLEX LNG Ltd. has a twelve month low of $20.85 and a twelve month high of $30.48.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same period last year, the business posted $0.70 EPS. Equities analysts forecast that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Dividend Announcement

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

Analysts Set New Price Targets

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

About FLEX LNG

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.