Optimum Investment Advisors Sells 3,700 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Optimum Investment Advisors decreased its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 55.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,000 shares of the company’s stock after selling 3,700 shares during the quarter. Optimum Investment Advisors’ holdings in FLEX LNG were worth $69,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC lifted its stake in FLEX LNG by 124.3% in the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock valued at $1,273,000 after buying an additional 27,746 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of FLEX LNG by 16.0% in the third quarter. Stifel Financial Corp now owns 40,831 shares of the company’s stock valued at $1,039,000 after purchasing an additional 5,641 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of FLEX LNG by 41.8% in the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock valued at $2,258,000 after purchasing an additional 29,000 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company’s stock valued at $516,000 after purchasing an additional 666 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of FLEX LNG in the third quarter valued at $337,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Fearnley Fonds raised shares of FLEX LNG to a “hold” rating in a research report on Monday, February 17th. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th.

FLEX LNG Stock Performance

FLEX LNG stock opened at $22.37 on Monday. The business has a 50 day moving average of $23.99 and a 200-day moving average of $24.36. FLEX LNG Ltd. has a 1 year low of $20.85 and a 1 year high of $30.48. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The company has a market capitalization of $1.20 billion, a P/E ratio of 10.26 and a beta of 0.62.

FLEX LNG (NYSE:FLNG) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $0.70 earnings per share. On average, equities research analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 13.41%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s dividend payout ratio is presently 137.61%.

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.