MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $23.69 Million 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. boosted its stake in Flex LNG Ltd. (NYSE:FLNG - Free Report) by 145.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,030,250 shares of the company's stock after acquiring an additional 610,236 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.91% of Flex LNG worth $23,686,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Flex LNG by 69.0% in the 1st quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock valued at $25,000 after purchasing an additional 450 shares during the period. State of Wyoming bought a new position in shares of Flex LNG during the first quarter worth about $57,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Flex LNG in the 1st quarter valued at approximately $102,000. Exchange Traded Concepts LLC lifted its stake in Flex LNG by 258.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company's stock valued at $106,000 after acquiring an additional 3,313 shares in the last quarter. Finally, M&T Bank Corp acquired a new position in Flex LNG during the 1st quarter worth approximately $215,000.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $23.00 price target 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 report on Friday, August 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $23.00.

Flex LNG Stock Down 0.5%

Shares of NYSE FLNG traded down $0.14 during trading hours on Friday, hitting $25.33. The company had a trading volume of 316,453 shares, compared to its average volume of 452,785. Flex LNG Ltd. has a 1-year low of $19.46 and a 1-year 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 firm's 50 day moving average is $24.88 and its 200-day moving average is $23.68. The stock has a market capitalization of $1.36 billion, a P/E ratio of 13.77 and a beta of 0.46.

Flex LNG (NYSE:FLNG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 20th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.01. The firm had revenue of $86.00 million for the quarter, compared to analyst estimates of $82.44 million. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. On average, analysts expect that Flex LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

Flex LNG Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 11.8%. The ex-dividend date is Friday, September 5th. Flex LNG's dividend payout ratio (DPR) is 163.04%.

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.