Spire Wealth Management Has $1.24 Million Stake in Flex LNG Ltd. (NYSE:FLNG)

Spire Wealth Management raised its position in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 62.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,052 shares of the company's stock after buying an additional 20,687 shares during the quarter. Spire Wealth Management owned about 0.10% of Flex LNG worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FLNG. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Flex LNG by 7.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,152 shares of the company's stock worth $624,000 after buying an additional 1,789 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Flex LNG by 258.2% in the first quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company's stock worth $106,000 after acquiring an additional 3,313 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Flex LNG by 69.0% in the 1st quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares in the last quarter. Gilman Hill Asset Management LLC boosted its stake in shares of Flex LNG by 45.2% in the 1st quarter. Gilman Hill Asset Management LLC now owns 325,872 shares of the company's stock valued at $7,492,000 after purchasing an additional 101,392 shares in the last quarter. Finally, Naples Global Advisors LLC grew its holdings in shares of Flex LNG by 10.0% during the 1st quarter. Naples Global Advisors LLC now owns 77,299 shares of the company's stock valued at $1,777,000 after purchasing an additional 7,022 shares during the last quarter.

Flex LNG Price Performance

FLNG stock traded down $0.42 during midday trading on Friday, reaching $22.98. 812,127 shares of the stock were exchanged, compared to its average volume of 373,006. Flex LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $27.77. The company has a fifty day moving average price of $23.88 and a 200 day moving average price of $23.48. The company has a debt-to-equity ratio of 2.14, a current ratio of 2.77 and a quick ratio of 2.74. The stock has a market capitalization of $1.24 billion, a PE ratio of 12.03 and a beta of 0.48.

Flex LNG (NYSE:FLNG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.04. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. The firm 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 EPS for the current fiscal year.

Flex LNG Dividend Announcement

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 of this dividend was Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 13.05%. Flex LNG's dividend payout ratio is presently 157.07%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Flex LNG from a "sell" rating to a "hold" rating in a research note on Saturday.

Flex LNG 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.