Flex LNG (NYSE:FLNG) Shares Down 3.3% - Time to Sell?

Flex LNG Ltd. (NYSE:FLNG - Get Free Report)'s share price was down 3.3% during mid-day trading on Monday . The stock traded as low as $22.15 and last traded at $22.24. Approximately 119,191 shares traded hands during trading, a decline of 73% from the average daily volume of 438,978 shares. The stock had previously closed at $22.99.

Wall Street Analysts Forecast Growth

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

Flex LNG Price Performance

The firm has a market cap of $1.22 billion, a P/E ratio of 11.87 and a beta of 0.45. The firm's fifty day simple moving average is $23.80 and its 200 day simple moving average is $23.47. The company has a debt-to-equity ratio of 2.14, a quick ratio of 2.74 and a current ratio of 2.77.

Flex LNG (NYSE:FLNG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The company reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.04. Flex LNG had a return on equity of 14.83% and a net margin of 29.10%. The company had revenue of $88.40 million during the quarter, compared to analyst estimates of $87.70 million. As a group, analysts forecast that Flex LNG Ltd. will post 1.9 earnings per share for the current year.

Flex LNG Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Friday, June 6th were given a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 13.23%. Flex LNG's dividend payout ratio is currently 157.07%.

Institutional Trading of Flex LNG

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in Flex LNG by 69.0% during the first quarter. GAMMA Investing LLC now owns 1,102 shares of the company's stock worth $25,000 after buying an additional 450 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Flex LNG by 465.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock worth $26,000 after acquiring an additional 941 shares during the last quarter. State of Wyoming purchased a new position in shares of Flex LNG during the 1st quarter worth about $57,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Flex LNG by 27.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock worth $59,000 after purchasing an additional 558 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in Flex LNG during the 1st quarter valued at about $102,000.

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.