Flex LNG Ltd. $FLNG Shares Newly Purchased by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. purchased a new stake in Flex LNG Ltd. (NYSE:FLNG) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 107,200 shares of the company’s stock, valued at approximately $3,297,000. Mn Services Vermogensbeheer B.V. owned 0.20% of Flex LNG as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in Flex LNG by 42.5% during the 1st quarter. Renaissance Technologies LLC now owns 1,170,795 shares of the company’s stock worth $34,784,000 after acquiring an additional 349,191 shares during the period. Bessemer Group Inc. increased its holdings in shares of Flex LNG by 54.6% in the first quarter. Bessemer Group Inc. now owns 191,231 shares of the company’s stock valued at $5,681,000 after purchasing an additional 67,500 shares during the period. Bank of America Corp DE raised its stake in shares of Flex LNG by 88.4% during the first quarter. Bank of America Corp DE now owns 152,341 shares of the company’s stock worth $4,526,000 after purchasing an additional 71,477 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Flex LNG by 53.1% during the first quarter. Quantinno Capital Management LP now owns 82,941 shares of the company’s stock worth $2,464,000 after purchasing an additional 28,757 shares during the period. Finally, OP Asset Management Ltd acquired a new stake in shares of Flex LNG during the first quarter worth $1,762,000.

Flex LNG Stock Performance

NYSE FLNG opened at $30.82 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 capitalization of $1.67 billion, a P/E ratio of 16.22 and a beta of 0.27. The business has a 50 day moving average price of $31.24 and a 200 day moving average price of $30.90. The company has a debt-to-equity ratio of 2.40, a current ratio of 2.69 and a quick ratio of 2.64.

Flex LNG (NYSE:FLNG) last issued its quarterly earnings data on Wednesday, August 19th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.17. The firm had revenue of $106.80 million during the quarter, compared to analysts’ expectations of $93.53 million. Flex LNG had a return on equity of 14.88% and a net margin of 28.50%.

Flex LNG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, September 3rd were given a $0.75 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $3.00 annualized dividend and a dividend yield of 9.7%. Flex LNG’s payout ratio is currently 157.89%.

Analyst Ratings Changes

Several equities analysts have issued reports on FLNG shares. Wall Street Zen raised shares of Flex LNG from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings downgraded shares of Flex LNG from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Sell” and an average target price of $25.00.

Flex LNG Profile

Flex LNG Ltd. (NYSE: FLNG) is a maritime transportation company focused on the ownership and operation of liquefied natural gas (LNG) carriers. The company provides seaborne transportation services for LNG producers, utilities, energy companies and other charterers under time-charter and voyage-charter arrangements.

Flex LNG operates a fleet of modern, large-scale LNG carriers equipped with two-stroke, electronically controlled, low-speed propulsion technology. Its vessels are designed to transport LNG between production and consumption markets and can serve international trade routes connecting major LNG-exporting regions with import markets in Europe, Asia and other parts of the world.

Flex LNG was established in 2006 and is incorporated in Bermuda, with its shares listed on the New York Stock Exchange and Oslo Stock Exchange.