Beck Capital Management LLC Trims Stock Holdings in FLEX LNG Ltd. (NYSE:FLNG)

Beck Capital Management LLC lowered its stake in shares of FLEX LNG Ltd. (NYSE:FLNG) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 176,259 shares of the company’s stock after selling 3,225 shares during the period. FLEX LNG makes up 2.5% of Beck Capital Management LLC’s portfolio, making the stock its 4th biggest position. Beck Capital Management LLC owned approximately 0.33% of FLEX LNG worth $5,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLNG. Legal & General Group Plc bought a new position in shares of FLEX LNG during the 2nd quarter valued at about $163,000. Accel Wealth Management bought a new position in shares of FLEX LNG during the 1st quarter valued at about $25,000. Nisa Investment Advisors LLC lifted its stake in FLEX LNG by 3,476.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 751 shares of the company’s stock valued at $25,000 after acquiring an additional 730 shares in the last quarter. Natixis bought a new stake in FLEX LNG in the 4th quarter valued at approximately $26,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in FLEX LNG in the 1st quarter valued at approximately $34,000.

FLEX LNG Stock Performance

Shares of FLNG stock traded up $0.37 during trading on Friday, reaching $30.71. 147,208 shares of the company’s stock were exchanged, compared to its average volume of 249,328. The company has a quick ratio of 2.88, a current ratio of 2.91 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $1.63 billion, a PE ratio of 11.50 and a beta of 0.92. FLEX LNG Ltd. has a twelve month low of $28.12 and a twelve month high of $38.24. The firm’s fifty day moving average price is $31.09 and its 200-day moving average price is $31.98.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Wednesday, August 16th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.12). FLEX LNG had a return on equity of 18.11% and a net margin of 38.97%. The business had revenue of $86.73 million for the quarter, compared to analyst estimates of $92.30 million. As a group, sell-side analysts anticipate that FLEX LNG Ltd. will post 2.33 EPS for the current year.

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Thursday, August 31st were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 9.77%. The ex-dividend date of this dividend was Wednesday, August 30th. FLEX LNG’s dividend payout ratio is 112.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FLNG shares. Jefferies Financial Group cut their target price on FLEX LNG from $35.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, August 16th. TheStreet cut FLEX LNG from a “b” rating to a “c+” rating in a research note on Wednesday, May 31st.

FLEX LNG Company Profile

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. It also provides chartering services.