Aigen Investment Management LP Makes New $298,000 Investment in Flex LNG Ltd. $FLNG

Key Points

• Aigen Investment Management LP acquired 12,947 shares of Flex LNG Ltd., valued at approximately $298,000, marking a new position in the company.
• Flex LNG's recent earnings report showed $0.54 earnings per share, exceeding expectations and contributing to a net margin of 29.10%.
• The company declared a quarterly dividend of $0.75 per share, yielding 11.7%, despite a high dividend payout ratio of 157.07%.

Aigen Investment Management LP acquired a new position in Flex LNG Ltd. (NYSE:FLNG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,947 shares of the company's stock, valued at approximately $298,000.

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock valued at $25,000 after acquiring an additional 450 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Flex LNG during the 1st quarter valued at $102,000. Exchange Traded Concepts LLC lifted its holdings in shares of Flex LNG by 258.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company's stock valued at $106,000 after purchasing an additional 3,313 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Flex LNG in the 1st quarter worth $215,000. Finally, Nisa Investment Advisors LLC grew its stake in Flex LNG by 8,796.3% during the 1st quarter. Nisa Investment Advisors LLC now owns 9,608 shares of the company's stock worth $221,000 after buying an additional 9,500 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Flex LNG from a "hold" rating to a "sell" rating in a report on Saturday, July 26th.

Flex LNG Stock Performance

Shares of NYSE:FLNG traded up $0.37 on Monday, hitting $25.42. 170,873 shares of the company were exchanged, compared to its average volume of 438,390. The firm has a market capitalization of $1.37 billion, a P/E ratio of 13.31 and a beta of 0.41. The company has a current ratio of 2.77, a quick ratio of 2.74 and a debt-to-equity ratio of 2.14. Flex LNG Ltd. has a 1-year low of $19.46 and a 1-year high of $27.77. The stock's 50 day moving average price is $23.82 and its 200 day moving average price is $23.45.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. The business had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. Sell-side analysts predict that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 11.8%. Flex LNG's payout ratio is currently 157.07%.

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.