Flex LNG Ltd. $FLNG Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in shares of Flex LNG Ltd. (NYSE:FLNG) by 53.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,941 shares of the company’s stock after purchasing an additional 28,757 shares during the quarter. Quantinno Capital Management LP’s holdings in Flex LNG were worth $2,464,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of FLNG. Main Street Group LTD acquired a new position in Flex LNG in the 1st quarter valued at $30,000. Financial Life Planners acquired a new stake in shares of Flex LNG in the 1st quarter worth $43,000. Kestra Advisory Services LLC acquired a new stake in shares of Flex LNG in the 4th quarter worth $43,000. EverSource Wealth Advisors LLC lifted its stake in shares of Flex LNG by 364.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,794 shares of the company’s stock worth $45,000 after acquiring an additional 1,408 shares during the period. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Flex LNG in the fourth quarter valued at about $64,000.

Flex LNG Price Performance

Flex LNG stock opened at $30.84 on Monday. Flex LNG Ltd. has a one year low of $24.00 and a one year high of $33.40. The company has a debt-to-equity ratio of 2.45, a quick ratio of 2.69 and a current ratio of 2.72. The business has a fifty day moving average of $30.27 and a two-hundred day moving average of $29.76. The company has a market cap of $1.67 billion, a P/E ratio of 22.03 and a beta of 0.20.

Flex LNG (NYSE:FLNG) last posted its quarterly earnings results on Wednesday, May 13th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). The company had revenue of $80.46 million for the quarter, compared to analyst estimates of $80.35 million. Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.

Flex LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.7%. The ex-dividend date was Friday, May 29th. Flex LNG’s dividend payout ratio is presently 214.29%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Pareto Securities lowered shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Wall Street Zen downgraded shares of Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a report on Wednesday, July 8th. Finally, Kepler Capital Markets set a $25.00 target price on Flex LNG and gave the stock a “reduce” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $24.00.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.