Hussman Strategic Advisors Inc. Buys Shares of 42,000 Flex LNG Ltd. $FLNG

Key Points

• Hussman Strategic Advisors bought a new stake of 42,000 shares of Flex LNG (NYSE:FLNG) in Q4, valued at about $1.048 million and representing roughly 0.08% ownership.
• Flex LNG recently paid a quarterly dividend of $0.75 (annualized $3.00), producing a 9.3% yield, but its dividend payout ratio is about 215.8%, raising sustainability concerns.
• Analysts carry an average "Hold" rating with a consensus price target of $23.00—well below the current share price (~$32.30)—and the company last missed EPS estimates ($0.43 vs. $0.61).

Hussman Strategic Advisors Inc. bought a new stake in shares of Flex LNG Ltd. (NYSE:FLNG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 42,000 shares of the company's stock, valued at approximately $1,048,000. Hussman Strategic Advisors Inc. owned 0.08% of Flex LNG as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in Flex LNG by 6.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 52,516 shares of the company's stock valued at $1,310,000 after purchasing an additional 3,367 shares during the period. R Squared Ltd acquired a new position in Flex LNG during the 4th quarter valued at about $412,000. CWM LLC boosted its stake in Flex LNG by 15.4% during the 4th quarter. CWM LLC now owns 3,607 shares of the company's stock valued at $90,000 after purchasing an additional 481 shares during the period. Farther Finance Advisors LLC boosted its stake in Flex LNG by 721.8% during the 4th quarter. Farther Finance Advisors LLC now owns 5,383 shares of the company's stock valued at $134,000 after purchasing an additional 4,728 shares during the period. Finally, Signaturefd LLC boosted its stake in Flex LNG by 70.0% during the 4th quarter. Signaturefd LLC now owns 5,153 shares of the company's stock valued at $129,000 after purchasing an additional 2,122 shares during the period.

Analyst Ratings Changes

FLNG has been the subject of a number of analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Flex LNG in a research note on Friday, April 10th. Wall Street Zen lowered shares of Flex LNG from a "hold" rating to a "sell" rating in a research note on Saturday, February 7th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $23.00.

Flex LNG Trading Down 0.1%

Shares of NYSE:FLNG opened at $32.30 on Monday. The company has a 50 day moving average of $29.89 and a 200-day moving average of $27.27. The firm has a market cap of $1.75 billion, a P/E ratio of 23.24 and a beta of 0.20. Flex LNG Ltd. has a twelve month low of $21.72 and a twelve month high of $32.55. The company has a current ratio of 3.04, a quick ratio of 2.98 and a debt-to-equity ratio of 2.42.

Flex LNG (NYSE:FLNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.18). The company had revenue of $87.54 million during the quarter, compared to analyst estimates of $86.75 million. Flex LNG had a return on equity of 13.46% and a net margin of 21.52%.

Flex LNG Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 27th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend was Friday, February 27th. Flex LNG's dividend payout ratio is currently 215.83%.

About Flex LNG

Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.

The company's core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.

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