Flex LNG Ltd. (NYSE:FLNG) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management lifted its stake in shares of Flex LNG Ltd. (NYSE:FLNG) by 27.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 31,125 shares of the company’s stock after purchasing an additional 6,684 shares during the quarter. Dakota Wealth Management’s holdings in Flex LNG were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Flex LNG by 10.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company’s stock worth $9,630,000 after buying an additional 39,572 shares during the period. Geode Capital Management LLC lifted its stake in shares of Flex LNG by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock worth $8,272,000 after buying an additional 3,411 shares during the period. Trek Financial LLC lifted its stake in shares of Flex LNG by 106.4% during the first quarter. Trek Financial LLC now owns 344,794 shares of the company’s stock worth $7,927,000 after buying an additional 177,711 shares during the period. Gilman Hill Asset Management LLC lifted its stake in shares of Flex LNG by 45.2% during the first quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company’s stock worth $7,492,000 after buying an additional 101,392 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Flex LNG by 17.7% during the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company’s stock worth $6,717,000 after buying an additional 45,037 shares during the period.

Flex LNG Trading Up 0.4%

Shares of Flex LNG stock opened at $22.07 on Thursday. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.77 and a quick ratio of 2.74. The firm has a fifty day moving average price of $23.60 and a 200 day moving average price of $23.54. Flex LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $27.77. The stock has a market cap of $1.19 billion, a PE ratio of 11.55 and a beta of 0.45.

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

Flex LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 13.60%. Flex LNG’s payout ratio is 157.07%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Saturday, June 28th.

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.