Denali Advisors LLC Buys 77,800 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Denali Advisors LLC raised its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 96.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,400 shares of the company’s stock after buying an additional 77,800 shares during the quarter. Denali Advisors LLC owned about 0.30% of FLEX LNG worth $4,283,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of FLEX LNG by 1.8% during the first quarter. Vanguard Group Inc. now owns 1,241,810 shares of the company’s stock valued at $31,579,000 after buying an additional 21,793 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of FLEX LNG by 6.8% during the second quarter. Renaissance Technologies LLC now owns 400,200 shares of the company’s stock valued at $10,821,000 after buying an additional 25,600 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in shares of FLEX LNG by 1.4% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 290,908 shares of the company’s stock valued at $7,866,000 after purchasing an additional 4,041 shares during the last quarter. Hosking Partners LLP raised its position in shares of FLEX LNG by 42.0% in the 2nd quarter. Hosking Partners LLP now owns 287,625 shares of the company’s stock valued at $7,777,000 after purchasing an additional 85,040 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in shares of FLEX LNG by 821.1% in the 1st quarter. Russell Investments Group Ltd. now owns 145,968 shares of the company’s stock valued at $3,712,000 after purchasing an additional 130,121 shares during the last quarter.

FLEX LNG Stock Performance

FLNG opened at $26.54 on Tuesday. FLEX LNG Ltd. has a 12-month low of $24.16 and a 12-month high of $32.23. The company has a current ratio of 2.57, a quick ratio of 2.54 and a debt-to-equity ratio of 2.01. The firm has a market capitalization of $1.41 billion, a PE ratio of 10.45 and a beta of 0.71. The firm has a 50 day moving average of $26.44 and a two-hundred day moving average of $26.62.

FLEX LNG (NYSE:FLNG) last posted its earnings results on Wednesday, August 14th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.09. The firm had revenue of $84.70 million during the quarter. FLEX LNG had a net margin of 32.60% and a return on equity of 16.79%. On average, analysts anticipate that FLEX LNG Ltd. will post 2.37 EPS for the current year.

FLEX LNG Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 11.30%. The ex-dividend date was Thursday, August 29th. FLEX LNG’s dividend payout ratio (DPR) is 118.11%.

Analyst Ratings Changes

Separately, Jefferies Financial Group raised shares of FLEX LNG from an “underperform” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Wednesday, August 14th.

FLEX LNG Profile

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.