Kingsview Wealth Management LLC Sells 10,186 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Kingsview Wealth Management LLC trimmed its position in FLEX LNG Ltd. (NYSE:FLNG) by 32.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,128 shares of the company’s stock after selling 10,186 shares during the period. Kingsview Wealth Management LLC’s holdings in FLEX LNG were worth $537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in FLEX LNG by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 1,241,810 shares of the company’s stock valued at $31,579,000 after buying an additional 21,793 shares in the last quarter. Renaissance Technologies LLC boosted its stake in FLEX LNG by 6.8% during the 2nd quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock valued at $10,821,000 after purchasing an additional 25,600 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in FLEX LNG by 1.4% during the 2nd quarter. Gilman Hill Asset Management LLC now owns 290,908 shares of the company’s stock valued at $7,866,000 after purchasing an additional 4,041 shares during the last quarter. Hosking Partners LLP boosted its stake in FLEX LNG by 42.0% during the 2nd quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock valued at $7,777,000 after purchasing an additional 85,040 shares during the last quarter. Finally, Denali Advisors LLC boosted its stake in FLEX LNG by 96.5% during the 2nd quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock valued at $4,283,000 after purchasing an additional 77,800 shares during the last quarter.

Analyst Ratings Changes

Separately, Jefferies Financial Group reiterated a “hold” rating and set a $24.00 price target on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Price Performance

FLNG stock opened at $24.03 on Thursday. The company has a market capitalization of $1.28 billion, a P/E ratio of 14.14 and a beta of 0.72. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. FLEX LNG Ltd. has a 52-week low of $22.80 and a 52-week high of $31.41. The business has a 50-day simple moving average of $25.39 and a two-hundred day simple moving average of $26.49.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.48%. FLEX LNG’s payout ratio is presently 176.47%.

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. Flex LNG Ltd.