MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $23.69 Million Stock Position in Flex LNG Ltd. $FLNG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Flex LNG Ltd. by 145.3%, purchasing an additional 610,236 shares, bringing its total ownership to 1,030,250 shares valued at approximately $23.7 million.
• Flex LNG recently announced a dividend of $0.75 per share, yielding an annualized rate of 11.7%, with the ex-dividend date set for September 5th.
• Despite a recent positive earnings report, Flex LNG's stock has seen a decline of 5.1%, currently trading around $25.74 with a market capitalization of $1.39 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 145.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,030,250 shares of the company's stock after acquiring an additional 610,236 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.91% of Flex LNG worth $23,686,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE raised its position in shares of Flex LNG by 60.9% in the 4th quarter. Bank of America Corp DE now owns 50,242 shares of the company's stock valued at $1,153,000 after acquiring an additional 19,025 shares during the period. GAMMA Investing LLC raised its position in shares of Flex LNG by 3,785.7% in the 1st quarter. GAMMA Investing LLC now owns 25,335 shares of the company's stock valued at $582,000 after acquiring an additional 24,683 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Flex LNG by 33.7% during the 4th 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 purchasing an additional 6,595 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Flex LNG by 6,863.4% during the 1st quarter. Russell Investments Group Ltd. now owns 119,143 shares of the company's stock worth $2,739,000 after purchasing an additional 117,432 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Flex LNG by 7.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,152 shares of the company's stock worth $624,000 after purchasing an additional 1,789 shares in the last quarter.

Flex LNG Stock Down 0.8%

Shares of NYSE:FLNG traded down $0.21 during midday trading on Friday, hitting $25.26. The stock had a trading volume of 494,865 shares, compared to its average volume of 526,843. Flex LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $27.67. The company has a quick ratio of 2.81, a current ratio of 2.84 and a debt-to-equity ratio of 2.23. The business's 50-day simple moving average is $24.93 and its 200-day simple moving average is $23.71. The company has a market cap of $1.36 billion, a P/E ratio of 13.73 and a beta of 0.46.

Flex LNG (NYSE:FLNG - Get Free Report) last released its earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.01. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. The business had revenue of $86.00 million during the quarter, compared to analysts' expectations of $82.44 million. On average, sell-side analysts forecast that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 11.9%. The ex-dividend date is Friday, September 5th. Flex LNG's payout ratio is currently 163.04%.

Wall Street Analyst Weigh In

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

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.