MGB Wealth Management LLC Lowers Stake in FLEX LNG Ltd. (NYSE:FLNG)

MGB Wealth Management LLC cut its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 56.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,598 shares of the company’s stock after selling 19,025 shares during the period. MGB Wealth Management LLC’s holdings in FLEX LNG were worth $325,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its holdings in FLEX LNG by 124.3% during the third quarter. Barclays PLC now owns 50,063 shares of the company’s stock valued at $1,273,000 after purchasing an additional 27,746 shares in the last quarter. Stifel Financial Corp lifted its stake in FLEX LNG by 16.0% in the 3rd quarter. Stifel Financial Corp now owns 40,831 shares of the company’s stock valued at $1,039,000 after buying an additional 5,641 shares in the last quarter. FMR LLC lifted its stake in FLEX LNG by 39.4% in the 3rd quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after buying an additional 2,075 shares in the last quarter. Verition Fund Management LLC acquired a new stake in FLEX LNG in the 3rd quarter worth about $337,000. Finally, State Street Corp increased its stake in FLEX LNG by 2.3% during the 3rd quarter. State Street Corp now owns 515,911 shares of the company’s stock worth $13,125,000 after buying an additional 11,695 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $23.00 price target on shares of FLEX LNG in a research note on Tuesday, February 4th.

FLEX LNG Trading Down 0.8 %

Shares of FLNG opened at $24.94 on Thursday. FLEX LNG Ltd. has a 52-week low of $20.85 and a 52-week high of $30.48. The stock has a market cap of $1.34 billion, a PE ratio of 11.44 and a beta of 0.70. The firm’s fifty day moving average is $23.98 and its two-hundred day moving average is $25.08. The company has a quick ratio of 2.18, a current ratio of 2.99 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. During the same quarter last year, the firm earned $0.70 EPS. Research analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th will be given a $0.75 dividend. The ex-dividend date is Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.03%. FLEX LNG’s dividend payout ratio (DPR) is presently 137.62%.

FLEX LNG Company 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.