16,214 Shares in Flex LNG Ltd. $FLNG Acquired by Lido Advisors LLC

Lido Advisors LLC acquired a new stake in Flex LNG Ltd. (NYSE:FLNG) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,214 shares of the company’s stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew its position in shares of Flex LNG by 15.2% in the first quarter. Royal Bank of Canada now owns 55,436 shares of the company’s stock valued at $1,275,000 after purchasing an additional 7,331 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Flex LNG by 22.7% in the first quarter. Goldman Sachs Group Inc. now owns 149,097 shares of the company’s stock valued at $3,428,000 after buying an additional 27,543 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Flex LNG by 6.9% in the 2nd quarter. Rhumbline Advisers now owns 48,796 shares of the company’s stock worth $1,073,000 after acquiring an additional 3,164 shares during the period. Invesco Ltd. increased its holdings in shares of Flex LNG by 3.6% in the second quarter. Invesco Ltd. now owns 22,471 shares of the company’s stock valued at $494,000 after buying an additional 784 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in Flex LNG in the 2nd quarter worth approximately $420,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Flex LNG from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Kepler Capital Markets set a $25.00 target price on shares of Flex LNG and gave the stock a “reduce” rating in a research note on Thursday, May 14th. Pareto Securities downgraded Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Flex LNG in a research report on Wednesday, July 8th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Flex LNG presently has an average rating of “Reduce” and a consensus price target of $24.00.

Flex LNG Price Performance

FLNG stock opened at $31.06 on Friday. Flex LNG Ltd. has a 1 year low of $24.00 and a 1 year high of $33.40. The company has a market cap of $1.68 billion, a P/E ratio of 22.18 and a beta of 0.20. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69. The firm has a 50-day moving average of $30.33 and a 200 day moving average of $29.59.

Flex LNG (NYSE:FLNG) last released its quarterly earnings data on Wednesday, May 13th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Flex LNG had a return on equity of 12.15% and a net margin of 22.26%.The business had revenue of $80.46 million during the quarter, compared to the consensus estimate of $80.35 million.

Flex LNG Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.7%. Flex LNG’s payout ratio is presently 214.29%.

Flex LNG Company Profile

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.