Great Valley Advisor Group Inc. Has $459,000 Stock Position in FLEX LNG Ltd. (NYSE:FLNG)

Great Valley Advisor Group Inc. increased its stake in FLEX LNG Ltd. (NYSE:FLNG) by 107.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,800 shares of the company’s stock after purchasing an additional 8,200 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in FLEX LNG were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of FLEX LNG by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock valued at $36,545,000 after buying an additional 26,105 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in FLEX LNG by 9.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock valued at $8,580,000 after acquiring an additional 26,521 shares during the last quarter. Bank of New York Mellon Corp grew its position in FLEX LNG by 4.1% in the third quarter. Bank of New York Mellon Corp now owns 109,578 shares of the company’s stock worth $3,305,000 after acquiring an additional 4,300 shares in the last quarter. Naples Global Advisors LLC increased its stake in shares of FLEX LNG by 0.7% during the 4th quarter. Naples Global Advisors LLC now owns 49,110 shares of the company’s stock worth $1,427,000 after purchasing an additional 360 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of FLEX LNG by 57.0% during the 3rd quarter. New York State Common Retirement Fund now owns 48,542 shares of the company’s stock valued at $1,464,000 after purchasing an additional 17,617 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group lowered FLEX LNG from a “hold” rating to an “underperform” rating and cut their target price for the company from $32.00 to $23.00 in a report on Tuesday, February 27th.

FLEX LNG Stock Performance

NYSE:FLNG opened at $26.60 on Monday. The company’s 50 day moving average is $25.54 and its 200-day moving average is $28.11. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.89 and a quick ratio of 2.86. FLEX LNG Ltd. has a 12 month low of $24.16 and a 12 month high of $33.33.

FLEX LNG (NYSE:FLNG) last announced its earnings results on Wednesday, February 7th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. FLEX LNG had a net margin of 32.35% and a return on equity of 15.86%. The firm had revenue of $97.23 million for the quarter, compared to the consensus estimate of $98.38 million. During the same quarter last year, the firm posted $1.02 EPS. On average, equities research analysts predict that FLEX LNG Ltd. will post 2.19 earnings per share for the current year.

FLEX LNG Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.75 per share. The ex-dividend date was Thursday, February 22nd. This represents a $3.00 annualized dividend and a yield of 11.28%. FLEX LNG’s payout ratio is 134.53%.

About FLEX LNG

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. Flex LNG Ltd.