Flex LNG Ltd. (NYSE:FLNG) Shares Acquired by Trek Financial LLC

Trek Financial LLC increased its position in shares of Flex LNG Ltd. (NYSE:FLNG - Free Report) by 106.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 344,794 shares of the company's stock after purchasing an additional 177,711 shares during the period. Trek Financial LLC owned approximately 0.64% of Flex LNG worth $7,927,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings 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 worth $1,153,000 after acquiring an additional 19,025 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Flex LNG in the 4th quarter worth approximately $3,890,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Flex LNG by 33.7% in 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 acquiring an additional 6,595 shares during the period. GAMMA Investing LLC grew its holdings 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 worth $582,000 after acquiring an additional 24,683 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Flex LNG by 7.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,152 shares of the company's stock worth $624,000 after acquiring an additional 1,789 shares during the period.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Flex LNG from a "sell" rating to a "hold" rating in a research note on Saturday, June 28th.

Flex LNG Price Performance

Shares of FLNG traded up $0.24 during mid-day trading on Friday, reaching $22.92. 460,223 shares of the company's stock were exchanged, compared to its average volume of 382,962. The company has a quick ratio of 2.74, a current ratio of 2.77 and a debt-to-equity ratio of 2.14. The company has a 50-day simple moving average of $23.70 and a two-hundred day simple moving average of $23.53. Flex LNG Ltd. has a 52-week low of $19.46 and a 52-week high of $27.77. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 12.00 and a beta of 0.45.

Flex LNG (NYSE:FLNG - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $88.40 million during the quarter, compared to analysts' expectations of $87.70 million. Flex LNG had a net margin of 29.10% and a return on equity of 14.83%. On average, sell-side analysts predict that Flex LNG Ltd. will post 1.9 EPS for the current fiscal year.

Flex LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were paid a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 13.09%. Flex LNG's payout ratio is currently 157.07%.

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.