FLEX LNG Ltd. (NYSE:FLNG) Stake Trimmed by Marshall Wace LLP

Marshall Wace LLP trimmed its position in shares of FLEX LNG Ltd. (NYSE:FLNG - Free Report) by 37.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,056 shares of the company's stock after selling 46,257 shares during the quarter. Marshall Wace LLP owned approximately 0.14% of FLEX LNG worth $1,791,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FLNG. Quadrant Capital Group LLC increased its position in shares of FLEX LNG by 465.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,143 shares of the company's stock worth $26,000 after purchasing an additional 941 shares during the last quarter. Financial Life Planners acquired a new stake in shares of FLEX LNG in the 4th quarter valued at $29,000. WFA Asset Management Corp raised its stake in FLEX LNG by 106.8% in the fourth quarter. WFA Asset Management Corp now owns 2,068 shares of the company's stock valued at $47,000 after buying an additional 1,068 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in FLEX LNG by 27.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,588 shares of the company's stock valued at $59,000 after purchasing an additional 558 shares in the last quarter. Finally, Whipplewood Advisors LLC acquired a new position in shares of FLEX LNG in the 4th quarter valued at $75,000.

FLEX LNG Trading Up 1.4 %

Shares of FLNG stock traded up $0.34 during trading hours on Friday, hitting $24.00. 78,364 shares of the company were exchanged, compared to its average volume of 474,752. FLEX LNG Ltd. has a 1 year low of $19.46 and a 1 year high of $30.48. The firm has a fifty day moving average of $22.36 and a 200 day moving average of $23.63. The firm has a market cap of $1.29 billion, a PE ratio of 11.01 and a beta of 0.42. The company has a quick ratio of 2.96, a current ratio of 2.99 and a debt-to-equity ratio of 2.11.

FLEX LNG (NYSE:FLNG - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 last year, the company earned $0.70 earnings per share. Analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were paid a $0.75 dividend. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a yield of 12.50%. FLEX LNG's payout ratio is currently 137.61%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FLNG. Fearnley Fonds upgraded shares of FLEX LNG to a "hold" rating in a research note on Monday, February 17th. Jefferies Financial Group reiterated a "hold" rating and issued a $23.00 price target on shares of FLEX LNG in a report on Tuesday, February 4th.

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.