SBI Securities Co. Ltd. Takes $190,000 Position in FLEX LNG Ltd. (NYSE:FLNG)

SBI Securities Co. Ltd. purchased a new position in shares of FLEX LNG Ltd. (NYSE:FLNG) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 8,274 shares of the company’s stock, valued at approximately $190,000.

Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC acquired a new stake in shares of FLEX LNG in the third quarter valued at about $1,460,000. AlphaCentric Advisors LLC purchased a new stake in FLEX LNG during the 4th quarter valued at about $1,198,000. Denali Advisors LLC raised its holdings in FLEX LNG by 19.8% in the 4th quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock valued at $5,434,000 after acquiring an additional 39,100 shares during the last quarter. New York State Common Retirement Fund lifted its stake in FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock worth $2,258,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of FLEX LNG by 124.3% during the 3rd quarter. Barclays PLC now owns 50,063 shares of the company’s stock worth $1,273,000 after purchasing an additional 27,746 shares during the last quarter.

FLEX LNG Stock Up 0.4 %

Shares of NYSE FLNG opened at $21.55 on Friday. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The stock has a market cap of $1.16 billion, a P/E ratio of 9.89 and a beta of 0.62. The business’s fifty day simple moving average is $24.34 and its 200-day simple moving average is $24.74. FLEX LNG Ltd. has a 12-month low of $20.85 and a 12-month high of $30.48.

FLEX LNG (NYSE:FLNG) last issued its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same quarter last year, the firm posted $0.70 EPS. As a group, equities analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 13.92%. FLEX LNG’s dividend payout ratio is currently 137.61%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FLNG. Fearnley Fonds raised FLEX LNG to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group restated a “hold” rating and set a $23.00 price objective on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG Profile

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.