FLEX LNG Ltd. (NYSE:FLNG) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lessened its stake in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 93.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,438 shares of the company's stock after selling 502,429 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.06% of FLEX LNG worth $760,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of FLEX LNG by 2.3% in the 3rd quarter. State Street Corp now owns 515,911 shares of the company's stock valued at $13,125,000 after buying an additional 11,695 shares during the period. Denali Advisors LLC boosted its position in shares of FLEX LNG by 19.8% during the 4th quarter. Denali Advisors LLC now owns 236,900 shares of the company's stock worth $5,434,000 after purchasing an additional 39,100 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of FLEX LNG during the 4th quarter worth $3,890,000. New York State Common Retirement Fund increased its holdings in shares of FLEX LNG by 41.8% in the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock valued at $2,258,000 after purchasing an additional 29,000 shares in the last quarter. Finally, Chelsea Counsel Co. lifted its stake in shares of FLEX LNG by 2.8% in the third quarter. Chelsea Counsel Co. now owns 60,350 shares of the company's stock valued at $1,535,000 after purchasing an additional 1,640 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FLNG shares. Jefferies Financial Group reaffirmed a "hold" rating and issued a $23.00 target price on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research report on Monday, February 17th.

FLEX LNG Price Performance

NYSE:FLNG traded up $0.34 during mid-day trading on Thursday, hitting $23.16. 39,023 shares of the company's stock traded hands, compared to its average volume of 359,869. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The company has a market cap of $1.25 billion, a PE ratio of 10.65 and a beta of 0.42. The firm's 50 day simple moving average is $22.55 and its 200 day simple moving average is $23.84. FLEX LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $30.48.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same period last year, the company posted $0.70 EPS. Sell-side analysts expect that FLEX LNG Ltd. will post 1.9 EPS for the current year.

FLEX LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Thursday, February 20th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 12.96%. The ex-dividend date was Thursday, February 20th. FLEX LNG's dividend payout ratio is presently 137.61%.

About FLEX LNG

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.