FLEX LNG Ltd. (NYSE:FLNG) Position Trimmed by Millennium Management LLC

Millennium Management LLC trimmed its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 36.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,084 shares of the company's stock after selling 16,923 shares during the period. Millennium Management LLC owned about 0.05% of FLEX LNG worth $667,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FLNG. Apollon Wealth Management LLC boosted its stake in 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 purchasing an additional 600 shares during the period. AlphaCentric Advisors LLC acquired a new position in FLEX LNG in the 4th quarter worth approximately $1,198,000. Atria Wealth Solutions Inc. boosted its stake in 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 purchasing an additional 666 shares during the period. New York State Common Retirement Fund boosted its stake in shares of FLEX LNG by 41.8% during 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 buying an additional 29,000 shares during the period. Finally, Denali Advisors LLC boosted its stake 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 valued at $5,434,000 after buying an additional 39,100 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th. Wall Street Zen downgraded shares of FLEX LNG from a "hold" rating to a "sell" rating in a report on Friday.

FLEX LNG Stock Performance

Shares of FLNG opened at $23.90 on Friday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The company has a market capitalization of $1.29 billion, a PE ratio of 10.96 and a beta of 0.45. The company's fifty day moving average price is $23.25 and its 200 day moving average price is $23.48. FLEX LNG Ltd. has a one year low of $19.46 and a one year high of $28.27.

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 (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. The company had revenue of $88.40 million for the quarter, compared to analyst estimates of $87.70 million. As a group, analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 12.55%. FLEX LNG's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding FLNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FLEX LNG Ltd. (NYSE:FLNG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.