1620 Investment Advisors Inc. Trims Holdings in FLEX LNG Ltd. (NYSE:FLNG)

1620 Investment Advisors Inc. trimmed its stake in FLEX LNG Ltd. (NYSE:FLNG) by 59.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,641 shares of the company’s stock after selling 9,659 shares during the period. 1620 Investment Advisors Inc.’s holdings in FLEX LNG were worth $152,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC acquired a new position in shares of FLEX LNG in the third quarter valued at approximately $1,460,000. Intech Investment Management LLC acquired a new position in shares of FLEX LNG in the third quarter valued at approximately $210,000. FMR LLC grew its holdings in shares of FLEX LNG by 39.4% in the third quarter. FMR LLC now owns 7,348 shares of the company’s stock valued at $189,000 after purchasing an additional 2,075 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of FLEX LNG by 11.7% in the third quarter. BNP Paribas Financial Markets now owns 10,408 shares of the company’s stock valued at $265,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of FLEX LNG in the third quarter valued at approximately $337,000.

FLEX LNG Trading Down 2.5 %

NYSE FLNG opened at $22.37 on Friday. 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 Ltd. has a 52 week low of $20.85 and a 52 week high of $30.48. The stock has a market capitalization of $1.20 billion, a PE ratio of 10.26 and a beta of 0.62. The firm has a 50 day moving average of $23.99 and a two-hundred day moving average of $24.38.

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

FLEX LNG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Thursday, February 20th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 13.41%. The ex-dividend date was Thursday, February 20th. FLEX LNG’s payout ratio is 137.61%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Fearnley Fonds upgraded shares of FLEX LNG to a “hold” rating in a report on Monday, February 17th. Jefferies Financial Group restated a “hold” rating and issued a $23.00 price objective 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.