Flex LNG Ltd. (NYSE:FLNG) Shares Purchased by Spire Wealth Management

Spire Wealth Management increased its position in shares of Flex LNG Ltd. (NYSE:FLNG) by 62.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,052 shares of the company’s stock after purchasing an additional 20,687 shares during the quarter. Spire Wealth Management owned 0.10% of Flex LNG worth $1,243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock worth $25,000 after purchasing an additional 450 shares during the period. Quadrant Capital Group LLC lifted its holdings in Flex LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company’s stock valued at $26,000 after acquiring an additional 941 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in Flex LNG by 27.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company’s stock valued at $59,000 after acquiring an additional 558 shares during the period. Whipplewood Advisors LLC acquired a new position in Flex LNG in the fourth quarter valued at approximately $75,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Flex LNG by 258.2% in the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock valued at $106,000 after acquiring an additional 3,313 shares during the period.

Analyst Ratings Changes

Separately, Wall Street Zen raised Flex LNG from a “sell” rating to a “hold” rating in a report on Saturday.

Flex LNG Trading Down 1.8%

Shares of NYSE:FLNG opened at $22.98 on Friday. Flex LNG Ltd. has a 12-month low of $19.46 and a 12-month high of $28.06. The company has a market capitalization of $1.24 billion, a PE ratio of 12.03 and a beta of 0.48. The business has a 50 day moving average of $23.88 and a two-hundred day moving average of $23.47. The company has a current ratio of 2.77, a quick ratio of 2.74 and a debt-to-equity ratio of 2.14.

Flex LNG (NYSE:FLNG) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. The company had revenue of $88.40 million during the quarter, compared to the consensus estimate of $87.70 million. As a group, analysts forecast that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.05%. The ex-dividend date was Friday, June 6th. Flex LNG’s dividend payout ratio (DPR) is presently 157.07%.

Flex LNG Profile

FLEX LNG Ltd. engages in the seaborne transportation of liquefied natural gas (LPG) through the ownership and operation of LNG carriers. The company was founded by Philip Eystein Fjeld, Trym Tveitnes and Jostein Ueland in September 2006 and is headquartered in Hamilton, Bermuda.