Graham Capital Management L.P. Takes Position in FLEX LNG Ltd. (NYSE:FLNG)

Graham Capital Management L.P. acquired a new stake in FLEX LNG Ltd. (NYSE:FLNG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,796 shares of the company's stock, valued at approximately $385,000.

A number of other large investors have also added to or reduced their stakes in FLNG. New York State Common Retirement Fund lifted its holdings in FLEX LNG by 41.8% during the 4th quarter. New York State Common Retirement Fund now owns 98,451 shares of the company's stock worth $2,258,000 after buying an additional 29,000 shares during the period. Raymond James Financial Inc. bought a new position in shares of FLEX LNG during the fourth quarter worth about $3,890,000. Atria Wealth Solutions Inc. raised its position in shares of FLEX LNG by 3.1% during the fourth quarter. Atria Wealth Solutions Inc. now owns 22,489 shares of the company's stock worth $516,000 after acquiring an additional 666 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of FLEX LNG by 1,894.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock worth $241,000 after acquiring an additional 9,967 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in FLEX LNG by 21.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,226 shares of the company's stock valued at $281,000 after acquiring an additional 2,123 shares during the last quarter.

FLEX LNG Trading Up 0.8%

FLNG stock traded up $0.18 during mid-day trading on Thursday, reaching $22.57. The company's stock had a trading volume of 113,839 shares, compared to its average volume of 364,445. FLEX LNG Ltd. has a 12 month low of $19.46 and a 12 month high of $30.48. The company has a current ratio of 2.99, a quick ratio of 2.96 and a debt-to-equity ratio of 2.11. The business's 50 day moving average price is $22.98 and its 200 day moving average price is $23.57. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 10.37 and a beta of 0.45.

FLEX LNG (NYSE:FLNG - Get Free Report) last released its quarterly earnings data on Wednesday, May 21st. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. FLEX LNG had a net margin of 33.03% and a return on equity of 15.61%. The company had revenue of $88.40 million during the quarter, compared to analyst estimates of $87.70 million. On average, equities research analysts predict that FLEX LNG Ltd. will post 1.9 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FLNG. Jefferies Financial Group reaffirmed a "hold" rating and issued a $23.00 price objective on shares of FLEX LNG in a research note on Tuesday, February 4th. Fearnley Fonds raised FLEX LNG to a "hold" rating in a research report on Monday, February 17th.

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.