Cambridge Investment Research Advisors Inc. Purchases 1,768 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Cambridge Investment Research Advisors Inc. boosted its position in shares of FLEX LNG Ltd. (NYSE:FLNG – Get Rating) by 9.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,012 shares of the company’s stock after purchasing an additional 1,768 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in FLEX LNG were worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLNG. Vanguard Group Inc. raised its holdings in FLEX LNG by 721.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,078,965 shares of the company’s stock worth $34,172,000 after purchasing an additional 947,675 shares during the last quarter. State Street Corp bought a new stake in shares of FLEX LNG in the 2nd quarter valued at about $13,060,000. Goldman Sachs Group Inc. increased its stake in shares of FLEX LNG by 147.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 338,553 shares of the company’s stock valued at $9,656,000 after acquiring an additional 201,876 shares during the last quarter. Millennium Management LLC increased its stake in shares of FLEX LNG by 220.6% in the 2nd quarter. Millennium Management LLC now owns 281,548 shares of the company’s stock valued at $7,712,000 after acquiring an additional 193,733 shares during the last quarter. Finally, Northern Trust Corp bought a new stake in shares of FLEX LNG in the 2nd quarter valued at about $5,068,000. 20.60% of the stock is owned by institutional investors.

FLEX LNG Price Performance

Shares of FLNG opened at $31.25 on Tuesday. The company has a current ratio of 3.23, a quick ratio of 2.28 and a debt-to-equity ratio of 2.05. The stock has a 50 day simple moving average of $33.02 and a 200 day simple moving average of $33.39. FLEX LNG Ltd. has a 52-week low of $23.25 and a 52-week high of $38.24.

FLEX LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 13th. Investors of record on Wednesday, May 31st will be given a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 annualized dividend and a dividend yield of 9.60%. FLEX LNG’s dividend payout ratio is presently 107.91%.

Analysts Set New Price Targets

A number of analysts have recently commented on FLNG shares. Jefferies Financial Group reaffirmed a “hold” rating and issued a $36.00 price target on shares of FLEX LNG in a research note on Tuesday, February 14th. Danske cut FLEX LNG from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, FLEX LNG currently has an average rating of “Hold” and an average target price of $158.00.

FLEX LNG 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.