GAMMA Investing LLC Raises Stock Position in Flex LNG Ltd. (NYSE:FLNG)

GAMMA Investing LLC increased its stake in shares of Flex LNG Ltd. (NYSE:FLNG - Free Report) by 3,785.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,335 shares of the company's stock after buying an additional 24,683 shares during the period. GAMMA Investing LLC's holdings in Flex LNG were worth $582,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in FLNG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Flex LNG by 33.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 26,192 shares of the company's stock worth $601,000 after acquiring an additional 6,595 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Flex LNG during the fourth quarter valued at approximately $477,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Flex LNG by 10.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 420,014 shares of the company's stock valued at $9,630,000 after purchasing an additional 39,572 shares during the last quarter. Janus Henderson Group PLC lifted its position in Flex LNG by 17.7% during the fourth quarter. Janus Henderson Group PLC now owns 299,864 shares of the company's stock valued at $6,717,000 after purchasing an additional 45,037 shares during the last quarter. Finally, Graham Capital Management L.P. bought a new stake in Flex LNG during the fourth quarter valued at approximately $385,000.

Flex LNG Trading Down 1.8%

Shares of NYSE FLNG traded down $0.43 during mid-day trading on Friday, hitting $23.97. The stock had a trading volume of 310,017 shares, compared to its average volume of 370,171. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77. Flex LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $28.27. The business has a 50 day moving average price of $23.79 and a two-hundred day moving average price of $23.44. The firm has a market cap of $1.29 billion, a P/E ratio of 11.09 and a beta of 0.48.

Flex LNG (NYSE:FLNG - Get Free Report) last issued 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. The company had revenue of $88.40 million for the quarter, compared to the consensus estimate of $87.70 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. On average, equities analysts anticipate 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 will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 12.52%. The ex-dividend date of this dividend is Friday, June 6th. Flex LNG's payout ratio is currently 157.07%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Flex LNG from a "hold" rating to a "sell" rating in a report on Friday, June 6th.

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.