Denali Advisors LLC Trims Stock Holdings in Flex LNG Ltd. (NYSE:FLNG)

Denali Advisors LLC lowered its position in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 34.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,568 shares of the company's stock after selling 82,332 shares during the period. Denali Advisors LLC owned about 0.29% of Flex LNG worth $3,554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Flex LNG by 69.0% during the first 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. Quadrant Capital Group LLC lifted its position in shares of Flex LNG by 465.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock valued at $26,000 after acquiring an additional 941 shares in the last quarter. Exchange Traded Concepts LLC lifted its position 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 valued at $106,000 after acquiring an additional 3,313 shares in the last quarter. Signaturefd LLC lifted its position in shares of Flex LNG by 76.5% in the fourth quarter. Signaturefd LLC now owns 4,941 shares of the company's stock valued at $113,000 after acquiring an additional 2,141 shares in the last quarter. Finally, M&T Bank Corp purchased a new position in shares of Flex LNG in the first quarter valued at about $215,000.

Flex LNG Price Performance

Shares of NYSE:FLNG traded up $0.65 during mid-day trading on Friday, reaching $23.10. The stock had a trading volume of 477,679 shares, compared to its average volume of 386,295. The company has a current ratio of 2.77, a quick ratio of 2.74 and a debt-to-equity ratio of 2.14. The company has a market cap of $1.24 billion, a P/E ratio of 12.09 and a beta of 0.45. Flex LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $27.77. The business's 50 day moving average price is $23.55 and its 200 day moving average price is $23.55.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its 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 company had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. Research analysts expect that Flex LNG Ltd. will post 1.9 EPS for the current fiscal year.

Flex LNG Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Shareholders 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 dividend on an annualized basis and a yield of 12.99%. Flex LNG's dividend payout ratio (DPR) is presently 157.07%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Flex LNG from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th.

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.