GAMMA Investing LLC Buys 24,683 Shares of Flex LNG Ltd. (NYSE:FLNG)

GAMMA Investing LLC boosted its stake in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 3,785.7% during the first quarter, according to the company in its most recent 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 filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crossingbridge Advisors LLC acquired a new position in shares of Flex LNG during the 4th quarter worth approximately $5,405,000. Raymond James Financial Inc. acquired a new position in shares of Flex LNG during the 4th quarter worth approximately $3,890,000. Trek Financial LLC acquired a new position in shares of Flex LNG during the 4th quarter worth approximately $3,833,000. Crestline Management LP acquired a new position in shares of Flex LNG during the 4th quarter worth approximately $1,153,000. Finally, Janus Henderson Group PLC grew its position in shares of Flex LNG by 17.7% during the 4th quarter. Janus Henderson Group PLC now owns 299,864 shares of the company's stock worth $6,717,000 after purchasing an additional 45,037 shares in the last quarter.

Flex LNG Price Performance

Shares of Flex LNG stock traded down $0.43 on Friday, reaching $23.97. 310,017 shares of the stock were exchanged, compared to its average volume of 369,909. The firm's 50 day moving average is $23.82 and its 200-day moving average is $23.44. Flex LNG Ltd. has a one year low of $19.46 and a one year high of $28.27. 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 firm has a market cap of $1.29 billion, a PE ratio of 12.55 and a beta of 0.48.

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

Flex LNG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 12.52%. The ex-dividend date was Friday, June 6th. Flex LNG's dividend payout ratio (DPR) is presently 157.07%.

Analysts Set New Price Targets

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

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.