Denali Advisors LLC Acquires 69,300 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Denali Advisors LLC boosted its holdings in FLEX LNG Ltd. (NYSE:FLNG) by 613.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 80,600 shares of the company’s stock after acquiring an additional 69,300 shares during the period. Denali Advisors LLC’s holdings in FLEX LNG were worth $2,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FLNG. Essex Financial Services Inc. raised its stake in FLEX LNG by 9.5% in the 3rd quarter. Essex Financial Services Inc. now owns 10,820 shares of the company’s stock valued at $326,000 after acquiring an additional 935 shares during the period. Vanguard Group Inc. increased its position in FLEX LNG by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock worth $36,545,000 after buying an additional 26,105 shares during the period. Naples Global Advisors LLC increased its position in FLEX LNG by 0.7% during the 4th quarter. Naples Global Advisors LLC now owns 49,110 shares of the company’s stock worth $1,427,000 after buying an additional 360 shares during the period. SG Americas Securities LLC bought a new position in FLEX LNG during the 4th quarter worth $654,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in FLEX LNG by 7.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,210 shares of the company’s stock worth $907,000 after buying an additional 2,113 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group increased their price objective on FLEX LNG from $23.00 to $25.00 and gave the stock an “underperform” rating in a research report on Thursday, May 23rd.

FLEX LNG Trading Up 1.0 %

FLNG stock traded up $0.28 during trading hours on Wednesday, hitting $27.37. 115,230 shares of the stock were exchanged, compared to its average volume of 326,073. The company has a quick ratio of 2.76, a current ratio of 2.80 and a debt-to-equity ratio of 2.00. The company has a 50-day simple moving average of $27.66 and a two-hundred day simple moving average of $27.45. FLEX LNG Ltd. has a 12 month low of $24.16 and a 12 month high of $33.33.

FLEX LNG (NYSE:FLNG) last released its earnings results on Thursday, May 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. The company had revenue of $90.24 million for the quarter. FLEX LNG had a return on equity of 16.31% and a net margin of 37.08%. On average, sell-side analysts expect that FLEX LNG Ltd. will post 2.27 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Monday, June 10th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 10.96%. The ex-dividend date was Monday, June 10th. FLEX LNG’s dividend payout ratio (DPR) is currently 118.11%.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.