Two Sigma Advisers LP Cuts Holdings in FLEX LNG Ltd. (NYSE:FLNG)

Two Sigma Advisers LP lowered its holdings in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 63.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,700 shares of the company's stock after selling 24,200 shares during the quarter. Two Sigma Advisers LP's holdings in FLEX LNG were worth $314,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FLNG. Steward Partners Investment Advisory LLC raised its position in 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. Apollon Wealth Management LLC raised its position in shares of FLEX LNG by 6.3% during the fourth quarter. Apollon Wealth Management LLC now owns 10,052 shares of the company's stock worth $231,000 after acquiring an additional 600 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in FLEX LNG by 3.1% in the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock valued at $516,000 after purchasing an additional 666 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in 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 purchasing an additional 941 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in FLEX LNG by 6.5% in the fourth quarter. MetLife Investment Management LLC now owns 18,956 shares of the company's stock valued at $435,000 after purchasing an additional 1,149 shares during the last quarter.

FLEX LNG Trading Down 3.4%

Shares of FLNG traded down $0.84 during mid-day trading on Friday, reaching $23.90. 388,005 shares of the company were exchanged, compared to its average volume of 367,778. FLEX LNG Ltd. has a 52 week low of $19.46 and a 52 week high of $28.42. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. The stock has a market capitalization of $1.29 billion, a PE ratio of 10.96 and a beta of 0.45. The business has a 50 day simple moving average of $23.23 and a two-hundred day simple moving average of $23.52.

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

FLEX LNG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a $0.75 dividend. The ex-dividend date of this dividend 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%.

Analyst Upgrades and Downgrades

FLNG has been the topic of several research reports. Fearnley Fonds raised shares of FLEX LNG to a "hold" rating in a research report on Monday, February 17th. Wall Street Zen raised FLEX LNG from a "sell" rating to a "hold" rating in a report on Saturday, May 24th.

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.