Whipplewood Advisors LLC Purchases 3,215 Shares of Flex LNG Ltd. $FLNG

Whipplewood Advisors LLC raised its position in Flex LNG Ltd. (NYSE:FLNG) by 9,185.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,250 shares of the company’s stock after acquiring an additional 3,215 shares during the period. Whipplewood Advisors LLC’s holdings in Flex LNG were worth $71,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of Flex LNG by 69.0% in the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock valued at $25,000 after buying an additional 450 shares during the period. Monetary Management Group Inc. grew its position in shares of Flex LNG by 6.1% in the first quarter. Monetary Management Group Inc. now owns 10,450 shares of the company’s stock valued at $240,000 after purchasing an additional 600 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of Flex LNG by 7.3% in the first quarter. Apollon Wealth Management LLC now owns 10,782 shares of the company’s stock valued at $248,000 after purchasing an additional 730 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Flex LNG by 6.7% in the first quarter. Arkadios Wealth Advisors now owns 15,358 shares of the company’s stock valued at $353,000 after purchasing an additional 960 shares in the last quarter. Finally, American Financial Group Inc. grew its position in shares of Flex LNG by 8.3% in the first quarter. American Financial Group Inc. now owns 13,000 shares of the company’s stock valued at $299,000 after purchasing an additional 1,000 shares in the last quarter.

Flex LNG Price Performance

Flex LNG stock opened at $24.91 on Monday. Flex LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $27.67. The business has a 50-day simple moving average of $25.56 and a 200 day simple moving average of $24.37. The company has a quick ratio of 2.81, a current ratio of 2.84 and a debt-to-equity ratio of 2.23. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 13.54 and a beta of 0.46.

Flex LNG (NYSE:FLNG) last posted its earnings results on Wednesday, August 20th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%.The business had revenue of $86.00 million during the quarter, compared to analysts’ expectations of $82.44 million. On average, research analysts forecast that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 12.0%. The ex-dividend date was Friday, September 5th. Flex LNG’s payout ratio is presently 163.04%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLNG. Wall Street Zen upgraded Flex LNG from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Flex LNG in a research report on Saturday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price target on shares of Flex LNG in a research report on Wednesday, August 20th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $23.00.

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.