Millennium Management LLC Lowers Position in FLEX LNG Ltd. (NYSE:FLNG)

Millennium Management LLC reduced its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 36.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,084 shares of the company's stock after selling 16,923 shares during the quarter. Millennium Management LLC owned approximately 0.05% of FLEX LNG worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FLNG. Steward Partners Investment Advisory LLC increased its position in FLEX LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock valued at $59,000 after purchasing an additional 558 shares during the period. Apollon Wealth Management LLC grew its position in shares of FLEX LNG by 6.3% in the 4th quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after buying an additional 600 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of FLEX LNG by 3.1% in the 4th quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after buying an additional 666 shares during the period. Quadrant Capital Group LLC grew its position in shares of FLEX LNG by 465.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock worth $26,000 after buying an additional 941 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of FLEX LNG by 6.5% in the 4th quarter. MetLife Investment Management LLC now owns 18,956 shares of the company's stock worth $435,000 after buying an additional 1,149 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLNG. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a report on Monday, February 17th. Wall Street Zen lowered shares of FLEX LNG from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

FLEX LNG Stock Up 0.5%

FLNG traded up $0.12 on Wednesday, hitting $23.74. The company had a trading volume of 258,716 shares, compared to its average volume of 368,372. The stock has a fifty day moving average price of $23.38 and a 200-day moving average price of $23.44. FLEX LNG Ltd. has a 12-month low of $19.46 and a 12-month high of $28.27. 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 stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.89 and a beta of 0.48.

FLEX LNG (NYSE:FLNG - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. The business had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. Analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current fiscal year.

FLEX LNG Dividend Announcement

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 paid a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.64%. FLEX LNG's payout ratio is 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.