Brave Asset Management Inc. acquired a new position in FLEX LNG Ltd. (NYSE:FLNG – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,500 shares of the company’s stock, valued at approximately $334,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Natixis purchased a new stake in shares of FLEX LNG during the fourth quarter valued at approximately $26,000. IFP Advisors Inc purchased a new stake in shares of FLEX LNG during the second quarter valued at approximately $32,000. PNC Financial Services Group Inc. increased its position in shares of FLEX LNG by 210.8% during the second quarter. PNC Financial Services Group Inc. now owns 1,153 shares of the company’s stock valued at $35,000 after acquiring an additional 782 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of FLEX LNG during the third quarter valued at approximately $64,000. Finally, Ameritas Investment Partners Inc. increased its position in shares of FLEX LNG by 15.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,461 shares of the company’s stock valued at $75,000 after acquiring an additional 322 shares during the last quarter.
FLEX LNG Stock Performance
Shares of FLEX LNG stock traded up $0.21 during trading hours on Thursday, reaching $25.43. The company had a trading volume of 277,913 shares, compared to its average volume of 384,022. FLEX LNG Ltd. has a one year low of $24.16 and a one year high of $35.85. The business has a fifty day simple moving average of $26.68 and a 200 day simple moving average of $28.89. The company has a debt-to-equity ratio of 2.02, a current ratio of 2.89 and a quick ratio of 2.86.
FLEX LNG Cuts Dividend
The firm 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 11.80%. The ex-dividend date of this dividend was Thursday, February 22nd. FLEX LNG’s dividend payout ratio is 134.53%.
Wall Street Analyst Weigh In
Separately, Jefferies Financial Group downgraded FLEX LNG from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $32.00 to $23.00 in a research report on Tuesday, February 27th.
Check Out Our Latest Analysis on FLNG
About FLEX LNG
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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