Prosperity Wealth Management Inc. purchased a new stake in shares of FLEX LNG Ltd. (NYSE:FLNG – Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 7,072 shares of the company’s stock, valued at approximately $206,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLNG. Mirae Asset Global Investments Co. Ltd. boosted its position in FLEX LNG by 9.9% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,268 shares of the company’s stock valued at $8,580,000 after buying an additional 26,521 shares during the last quarter. Colonial River Wealth Management LLC acquired a new stake in FLEX LNG during the 4th quarter valued at approximately $226,000. Brave Asset Management Inc. purchased a new stake in FLEX LNG during the 4th quarter worth approximately $334,000. Raymond James Financial Services Advisors Inc. increased its holdings in FLEX LNG by 7.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 31,210 shares of the company’s stock worth $907,000 after purchasing an additional 2,113 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of FLEX LNG in the 4th quarter valued at approximately $654,000.
FLEX LNG Stock Performance
Shares of FLEX LNG stock opened at $25.51 on Thursday. FLEX LNG Ltd. has a 1 year low of $24.16 and a 1 year high of $35.85. The firm’s 50-day simple moving average is $25.59 and its 200-day simple moving average is $28.44. 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 Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Friday, February 23rd were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 11.76%. The ex-dividend date of this dividend was Thursday, February 22nd. FLEX LNG’s dividend payout ratio (DPR) is presently 134.53%.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group downgraded shares of FLEX LNG from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $32.00 to $23.00 in a research report on Tuesday, February 27th.
View Our Latest Stock Report on FLNG
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.
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