Quantinno Capital Management LP Increases Holdings in Flex LNG Ltd. $FLNG

Quantinno Capital Management LP grew its holdings in Flex LNG Ltd. (NYSE:FLNG) by 53.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 82,941 shares of the company’s stock after acquiring an additional 28,757 shares during the quarter. Quantinno Capital Management LP owned about 0.15% of Flex LNG worth $2,464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Flex LNG during the third quarter worth approximately $28,392,000. Arrowstreet Capital Limited Partnership purchased a new position in Flex LNG in the third quarter valued at approximately $9,764,000. Dimensional Fund Advisors LP acquired a new stake in Flex LNG during the third quarter worth approximately $9,497,000. Renaissance Technologies LLC raised its holdings in Flex LNG by 42.5% during the first quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock worth $34,784,000 after purchasing an additional 349,191 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Flex LNG by 834.5% during the 3rd quarter. Two Sigma Investments LP now owns 271,681 shares of the company’s stock worth $6,846,000 after buying an additional 242,608 shares during the last quarter.

Flex LNG Stock Up 0.0%

FLNG stock opened at $30.84 on Monday. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 22.03 and a beta of 0.20. The company has a fifty day moving average price of $30.27 and a 200 day moving average price of $29.76. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.72 and a quick ratio of 2.69. Flex LNG Ltd. has a 12 month low of $24.00 and a 12 month high of $33.40.

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

Flex LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were issued a dividend of $0.75 per share. 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 dividend payout ratio (DPR) is currently 214.29%.

Analysts Set New Price Targets

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

Flex LNG 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.