Voloridge Investment Management LLC Invests $477,000 in FLEX LNG Ltd. (NYSE:FLNG)

Voloridge Investment Management LLC bought a new stake in FLEX LNG Ltd. (NYSE:FLNG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,811 shares of the company's stock, valued at approximately $477,000.

A number of other large investors have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its holdings in FLEX LNG by 41.8% in the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock valued at $2,258,000 after acquiring an additional 29,000 shares during the period. Raymond James Financial Inc. acquired a new position in FLEX LNG in the fourth quarter valued at approximately $3,890,000. Atria Wealth Solutions Inc. lifted its holdings in FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock valued at $516,000 after acquiring an additional 666 shares during the period. PNC Financial Services Group Inc. lifted its holdings in FLEX LNG by 1,894.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock valued at $241,000 after acquiring an additional 9,967 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in FLEX LNG by 21.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,226 shares of the company's stock valued at $281,000 after acquiring an additional 2,123 shares during the period.

Analysts Set New Price Targets

FLNG has been the topic of a number of recent analyst reports. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research report on Monday, February 17th. Jefferies Financial Group reiterated a "hold" rating and set a $23.00 target price on shares of FLEX LNG in a research report on Tuesday, February 4th. Finally, Wall Street Zen upgraded FLEX LNG from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th.

FLEX LNG Price Performance

Shares of NYSE:FLNG traded up $0.21 during midday trading on Tuesday, reaching $24.58. 344,234 shares of the company's stock traded hands, compared to its average volume of 364,950. FLEX LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $28.76. The company has a market cap of $1.32 billion, a P/E ratio of 11.28 and a beta of 0.45. 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 fifty day simple moving average of $23.15 and a two-hundred day simple moving average of $23.52.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.50 by $0.04. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. The firm had revenue of $88.40 million during the quarter, compared to the consensus estimate of $87.70 million. Equities analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.20%. The ex-dividend date of this dividend is Friday, June 6th. FLEX LNG's dividend payout ratio is presently 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.