Goldman Sachs Group Inc. Purchases 27,543 Shares of Flex LNG Ltd. $FLNG

Goldman Sachs Group Inc. boosted its stake in shares of Flex LNG Ltd. (NYSE:FLNG - Free Report) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,097 shares of the company's stock after purchasing an additional 27,543 shares during the quarter. Goldman Sachs Group Inc. owned about 0.28% of Flex LNG worth $3,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Flex LNG by 145.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,030,250 shares of the company's stock valued at $23,686,000 after acquiring an additional 610,236 shares during the period. Trek Financial LLC boosted its position in shares of Flex LNG by 106.4% in the first quarter. Trek Financial LLC now owns 344,794 shares of the company's stock valued at $7,927,000 after acquiring an additional 177,711 shares during the period. Nuveen LLC bought a new stake in shares of Flex LNG in the first quarter valued at about $2,737,000. Cubist Systematic Strategies LLC bought a new stake in shares of Flex LNG in the first quarter valued at about $2,730,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Flex LNG by 6,863.4% in the first quarter. Russell Investments Group Ltd. now owns 119,143 shares of the company's stock valued at $2,739,000 after acquiring an additional 117,432 shares during the period.

Analysts Set New Price Targets

FLNG has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "hold" rating and issued a $23.00 price target on shares of Flex LNG in a research note on Wednesday, August 20th. Wall Street Zen raised Flex LNG from a "sell" rating to a "hold" rating in a research note on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Flex LNG currently has a consensus rating of "Hold" and a consensus target price of $23.00.

Flex LNG Trading Up 0.8%

NYSE FLNG opened at $25.13 on Friday. The firm has a market capitalization of $1.35 billion, a P/E ratio of 13.66 and a beta of 0.46. The business has a fifty day simple moving average of $25.10 and a 200 day simple moving average of $23.78. Flex LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $27.67. The company has a current ratio of 2.84, a quick ratio of 2.81 and a debt-to-equity ratio of 2.23.

Flex LNG (NYSE:FLNG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.01. The company had revenue of $86.00 million during the quarter, compared to analyst estimates of $82.44 million. Flex LNG had a return on equity of 14.41% and a net margin of 27.84%. On average, analysts predict 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 Thursday, September 18th. Investors of record on Friday, September 5th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 11.9%. The ex-dividend date of this dividend was Friday, September 5th. Flex LNG's dividend payout ratio is presently 163.04%.

Flex LNG 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.

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