Belpointe Asset Management LLC Invests $50,000 in FLEX LNG Ltd. (NYSE:FLNG)

Belpointe Asset Management LLC purchased a new position in FLEX LNG Ltd. (NYSE:FLNG – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,539 shares of the company’s stock, valued at approximately $50,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FLNG. Fifth Third Bancorp acquired a new position in shares of FLEX LNG in the 4th quarter valued at approximately $25,000. Allspring Global Investments Holdings LLC acquired a new stake in FLEX LNG in the third quarter valued at $42,000. Tower Research Capital LLC TRC boosted its stake in FLEX LNG by 26.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,372 shares of the company’s stock valued at $75,000 after acquiring an additional 503 shares during the last quarter. National Bank of Canada FI grew its holdings in FLEX LNG by 97.3% during the 4th quarter. National Bank of Canada FI now owns 2,975 shares of the company’s stock worth $97,000 after acquiring an additional 1,467 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in shares of FLEX LNG in the 4th quarter valued at about $98,000. Hedge funds and other institutional investors own 20.60% of the company’s stock.

FLEX LNG Price Performance

Shares of FLNG stock opened at $31.25 on Wednesday. The business has a 50 day moving average of $32.98 and a two-hundred day moving average of $33.37. FLEX LNG Ltd. has a 52 week low of $23.25 and a 52 week high of $38.24. The company has a debt-to-equity ratio of 2.05, a quick ratio of 3.20 and a current ratio of 3.23.

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 of this dividend is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a yield of 9.60%. FLEX LNG’s payout ratio is currently 107.91%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLNG. Jefferies Financial Group reiterated a “hold” rating and issued a $36.00 price target on shares of FLEX LNG in a research note on Tuesday, February 14th. Danske lowered FLEX LNG from a “buy” rating to a “hold” rating in a research report on Thursday, February 16th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.