MGB Wealth Management LLC Has $862,000 Holdings in FLEX LNG Ltd. (NYSE:FLNG)

MGB Wealth Management LLC lessened its holdings in shares of FLEX LNG Ltd. (NYSE:FLNG) by 18.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 33,623 shares of the company’s stock after selling 7,735 shares during the quarter. MGB Wealth Management LLC’s holdings in FLEX LNG were worth $862,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. HHM Wealth Advisors LLC acquired a new stake in shares of FLEX LNG in the 2nd quarter valued at about $47,000. GAMMA Investing LLC raised its stake in shares of FLEX LNG by 6,254.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,970 shares of the company’s stock valued at $50,000 after purchasing an additional 1,939 shares during the period. Rothschild Investment LLC acquired a new stake in shares of FLEX LNG in the 2nd quarter valued at about $81,000. Redwood Wealth Management Group LLC acquired a new stake in shares of FLEX LNG in the 2nd quarter valued at about $98,000. Finally, Creative Planning acquired a new stake in shares of FLEX LNG in the 3rd quarter valued at about $206,000.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reissued a “hold” rating and issued a $24.00 price target on shares of FLEX LNG in a research note on Tuesday, November 12th.

FLEX LNG Trading Up 0.6 %

Shares of NYSE FLNG opened at $26.34 on Friday. The business has a 50-day moving average of $25.46 and a 200-day moving average of $26.54. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.18 and a current ratio of 2.21. FLEX LNG Ltd. has a fifty-two week low of $22.80 and a fifty-two week high of $31.78.

FLEX LNG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Wednesday, November 27th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 11.39%. The ex-dividend date is Wednesday, November 27th. FLEX LNG’s payout ratio is 176.47%.

About FLEX LNG

Flex LNG Ltd., together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. Flex LNG Ltd.