Gilman Hill Asset Management LLC Sells 62,673 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Gilman Hill Asset Management LLC lowered its stake in FLEX LNG Ltd. (NYSE:FLNG) by 21.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 224,480 shares of the company’s stock after selling 62,673 shares during the quarter. Gilman Hill Asset Management LLC owned 0.42% of FLEX LNG worth $5,150,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FLNG. GAMMA Investing LLC increased its stake in FLEX LNG by 6,254.8% in the third quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,939 shares in the last quarter. FMR LLC increased its position in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after buying an additional 2,075 shares in the last quarter. Creative Planning acquired a new position in FLEX LNG during the 3rd quarter worth approximately $206,000. Intech Investment Management LLC acquired a new position in FLEX LNG during the 3rd quarter worth approximately $210,000. Finally, Cypress Wealth Services LLC bought a new position in FLEX LNG in the third quarter worth approximately $213,000.

FLEX LNG Stock Down 2.7 %

FLEX LNG stock opened at $25.08 on Monday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 14.75 and a beta of 0.72. The firm’s fifty day moving average price is $23.85 and its two-hundred day moving average price is $25.26. FLEX LNG Ltd. has a 1-year low of $20.85 and a 1-year high of $30.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 1.97.

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a yield of 11.96%. FLEX LNG’s dividend payout ratio (DPR) is currently 176.47%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a “hold” rating and set a $24.00 target price on shares of FLEX LNG in a research report on Tuesday, November 12th.

About FLEX LNG

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.