Envestnet Asset Management Inc. Acquires 24,979 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Envestnet Asset Management Inc. lifted its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG – Get Rating) by 100.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,834 shares of the company’s stock after purchasing an additional 24,979 shares during the period. Envestnet Asset Management Inc. owned 0.09% of FLEX LNG worth $1,629,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of FLEX LNG by 721.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,965 shares of the company’s stock valued at $34,172,000 after purchasing an additional 947,675 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of FLEX LNG by 46.8% in the second quarter. Goldman Sachs Group Inc. now owns 496,891 shares of the company’s stock worth $13,610,000 after purchasing an additional 158,338 shares during the last quarter. State Street Corp purchased a new stake in shares of FLEX LNG in the second quarter worth approximately $13,060,000. Millennium Management LLC raised its stake in shares of FLEX LNG by 220.6% in the second quarter. Millennium Management LLC now owns 281,548 shares of the company’s stock worth $7,712,000 after purchasing an additional 193,733 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of FLEX LNG by 16.3% in the first quarter. Bank of America Corp DE now owns 250,214 shares of the company’s stock worth $7,136,000 after purchasing an additional 35,068 shares during the last quarter. Institutional investors own 20.60% of the company’s stock.

FLEX LNG Stock Up 0.7 %

NYSE:FLNG opened at $30.99 on Monday. The company has a debt-to-equity ratio of 2.05, a current ratio of 3.23 and a quick ratio of 2.28. The business has a fifty day simple moving average of $33.06 and a two-hundred day simple moving average of $33.40. FLEX LNG Ltd. has a 1 year low of $23.25 and a 1 year high of $38.24.

FLEX LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.68%. FLEX LNG’s payout ratio is 107.91%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FLNG shares. Danske downgraded FLEX LNG from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. Jefferies Financial Group reiterated a “hold” rating and set a $36.00 price target on shares of FLEX LNG in a report on Tuesday, February 14th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $158.00.

FLEX LNG Company Profile

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FLEX LNG Ltd. engages in the operation of carrier vessels. It focuses on the engineering and construction of liquefied natural gas producer units. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in August 2006 and is headquartered in Hamilton, Bermuda.