Spire Wealth Management Raises Holdings in Flex LNG Ltd. (NYSE:FLNG)

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

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock worth $25,000 after buying an additional 450 shares during the period. Quadrant Capital Group LLC lifted its holdings 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 acquiring an additional 941 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Flex LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock worth $59,000 after purchasing an additional 558 shares during the period. Whipplewood Advisors LLC bought a new position in Flex LNG during the 4th quarter valued at about $75,000. Finally, Exchange Traded Concepts LLC grew its holdings in Flex LNG by 258.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company's stock valued at $106,000 after purchasing an additional 3,313 shares during the last quarter.

Flex LNG Trading Down 0.4%

Flex LNG stock traded down $0.09 during mid-day trading on Tuesday, hitting $21.89. The company's stock had a trading volume of 540,901 shares, compared to its average volume of 376,549. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77. The company has a 50 day moving average of $23.85 and a 200-day moving average of $23.47. Flex LNG Ltd. has a one year low of $19.46 and a one year high of $27.77. The stock has a market cap of $1.18 billion, a PE ratio of 11.46 and a beta of 0.46.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.04. The firm had revenue of $88.40 million for the quarter, compared to analysts' expectations of $87.70 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. On average, research analysts anticipate that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.70%. The ex-dividend date of this dividend was Friday, June 6th. Flex LNG's dividend payout ratio (DPR) is presently 157.07%.

Analysts Set New Price Targets

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

About Flex LNG

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.