MGB Wealth Management LLC Sells 7,735 Shares of FLEX LNG Ltd. (NYSE:FLNG)

MGB Wealth Management LLC trimmed its position in FLEX LNG Ltd. (NYSE:FLNG) by 18.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 33,623 shares of the company’s stock after selling 7,735 shares during the period. MGB Wealth Management LLC’s holdings in FLEX LNG were worth $862,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in FLEX LNG by 1.8% in the 1st 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. Rothschild Investment LLC bought a new position in FLEX LNG in the 2nd quarter valued at $81,000. Cetera Investment Advisers lifted its stake in shares of FLEX LNG by 627.4% in the 1st quarter. Cetera Investment Advisers now owns 66,300 shares of the company’s stock valued at $1,686,000 after purchasing an additional 57,185 shares during the period. Raymond James Trust N.A. acquired a new position in shares of FLEX LNG in the 2nd quarter valued at $474,000. Finally, Denali Advisors LLC lifted its stake in shares of FLEX LNG by 96.5% in the 2nd quarter. Denali Advisors LLC now owns 158,400 shares of the company’s stock valued at $4,283,000 after purchasing an additional 77,800 shares during the period.

Wall Street Analyst Weigh In

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 Stock Performance

FLNG stock opened at $26.34 on Friday. The business’s fifty day moving average is $25.46 and its 200-day moving average is $26.54. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.21 and a quick ratio of 2.18. FLEX LNG Ltd. has a twelve month low of $22.80 and a twelve month high of $31.78.

FLEX LNG Announces Dividend

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

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.