Spire Wealth Management Acquires 11,109 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Spire Wealth Management boosted its stake in FLEX LNG Ltd. (NYSE:FLNG) by 63.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,494 shares of the company’s stock after acquiring an additional 11,109 shares during the period. Spire Wealth Management’s holdings in FLEX LNG were worth $843,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of FLEX LNG by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,211,713 shares of the company’s stock valued at $36,545,000 after purchasing an additional 26,105 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of FLEX LNG by 9.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock worth $8,580,000 after acquiring an additional 26,521 shares during the period. Bank of New York Mellon Corp raised its position in shares of FLEX LNG by 4.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 109,578 shares of the company’s stock worth $3,305,000 after acquiring an additional 4,300 shares in the last quarter. Naples Global Advisors LLC lifted its stake in shares of FLEX LNG by 0.7% in the 4th quarter. Naples Global Advisors LLC now owns 49,110 shares of the company’s stock valued at $1,427,000 after purchasing an additional 360 shares during the period. Finally, New York State Common Retirement Fund grew its stake in FLEX LNG by 57.0% in the third quarter. New York State Common Retirement Fund now owns 48,542 shares of the company’s stock worth $1,464,000 after purchasing an additional 17,617 shares during the period.

Analyst Ratings Changes

Separately, Jefferies Financial Group lowered FLEX LNG from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $32.00 to $23.00 in a research report on Tuesday, February 27th.

FLEX LNG Trading Up 2.3 %

Shares of FLNG opened at $27.60 on Thursday. FLEX LNG Ltd. has a fifty-two week low of $24.16 and a fifty-two week high of $33.33. The firm’s 50-day simple moving average is $25.63 and its two-hundred day simple moving average is $28.06. The company has a debt-to-equity ratio of 2.02, a quick ratio of 2.86 and a current ratio of 2.89.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.03. The company had revenue of $97.23 million for the quarter, compared to the consensus estimate of $98.38 million. FLEX LNG had a return on equity of 15.86% and a net margin of 32.35%. During the same quarter in the prior year, the business posted $1.02 EPS. Sell-side analysts forecast that FLEX LNG Ltd. will post 2.19 EPS for the current year.

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.