LPL Financial LLC Sells 15,521 Shares of FLEX LNG Ltd. (NYSE:FLNG)

LPL Financial LLC lowered its holdings in FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,151 shares of the company's stock after selling 15,521 shares during the quarter. LPL Financial LLC owned 0.07% of FLEX LNG worth $829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of FLEX LNG in the 4th quarter worth about $363,000. Intech Investment Management LLC boosted its position in FLEX LNG by 82.4% in the fourth quarter. Intech Investment Management LLC now owns 15,062 shares of the company's stock valued at $346,000 after buying an additional 6,805 shares in the last quarter. Signaturefd LLC grew its stake in FLEX LNG by 76.5% during the fourth quarter. Signaturefd LLC now owns 4,941 shares of the company's stock worth $113,000 after buying an additional 2,141 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of FLEX LNG by 1,894.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,493 shares of the company's stock worth $241,000 after buying an additional 9,967 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of FLEX LNG in the fourth quarter valued at approximately $3,890,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FLNG shares. Jefferies Financial Group reaffirmed a "hold" rating and set a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th. Fearnley Fonds upgraded FLEX LNG to a "hold" rating in a research note on Monday, February 17th.

FLEX LNG Price Performance

Shares of FLEX LNG stock traded down $0.21 during midday trading on Friday, reaching $23.56. The company had a trading volume of 310,934 shares, compared to its average volume of 363,007. 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 stock has a fifty day simple moving average of $22.35 and a 200 day simple moving average of $23.70. FLEX LNG Ltd. has a 1-year low of $19.46 and a 1-year high of $30.48. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 10.81 and a beta of 0.42.

FLEX LNG (NYSE:FLNG - Get Free Report) last released its earnings results on Tuesday, February 4th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. FLEX LNG had a return on equity of 15.61% and a net margin of 33.03%. During the same period in the previous year, the company posted $0.70 earnings per share. As a group, equities research analysts forecast that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 12.74%. The ex-dividend date of this dividend was Thursday, February 20th. FLEX LNG's dividend payout ratio (DPR) is presently 137.61%.

FLEX LNG 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.