Gilman Hill Asset Management LLC Increases Stake in FLEX LNG Ltd. (NYSE:FLNG)

Gilman Hill Asset Management LLC raised its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 45.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 325,872 shares of the company's stock after buying an additional 101,392 shares during the quarter. FLEX LNG comprises about 1.3% of Gilman Hill Asset Management LLC's investment portfolio, making the stock its 22nd largest holding. Gilman Hill Asset Management LLC owned approximately 0.60% of FLEX LNG worth $7,492,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Quadrant Capital Group LLC raised 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 valued at $26,000 after purchasing an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of FLEX LNG by 27.5% in 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 last quarter. Whipplewood Advisors LLC purchased a new position in shares of FLEX LNG in the 4th quarter valued at approximately $75,000. Signaturefd LLC increased its holdings in FLEX LNG by 76.5% in the 4th quarter. Signaturefd LLC now owns 4,941 shares of the company's stock worth $113,000 after buying an additional 2,141 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in FLEX LNG in the 4th quarter worth approximately $190,000.

Analyst Ratings Changes

Several equities analysts recently weighed in on FLNG shares. Wall Street Zen downgraded shares of FLEX LNG from a "hold" rating to a "sell" rating in a report on Friday. Fearnley Fonds upgraded shares of FLEX LNG to a "hold" rating in a report on Monday, February 17th.

FLEX LNG Stock Performance

Shares of NYSE FLNG traded down $0.84 during midday trading on Friday, reaching $23.90. 388,005 shares of the stock were exchanged, compared to its average volume of 367,679. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 10.96 and a beta of 0.48. FLEX LNG Ltd. has a twelve month low of $19.46 and a twelve month high of $28.27. The firm has a 50-day simple moving average of $23.25 and a two-hundred day simple moving average of $23.46. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11.

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

FLEX LNG Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid 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 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.