Intech Investment Management LLC Buys 6,805 Shares of FLEX LNG Ltd. (NYSE:FLNG)

Intech Investment Management LLC grew its position in shares of FLEX LNG Ltd. (NYSE:FLNG) by 82.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,062 shares of the company’s stock after buying an additional 6,805 shares during the quarter. Intech Investment Management LLC’s holdings in FLEX LNG were worth $346,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the business. Financial Life Planners bought a new position in shares of FLEX LNG in the 4th quarter valued at about $29,000. WFA Asset Management Corp lifted its holdings 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 during the period. Steward Partners Investment Advisory LLC boosted its stake 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 acquiring an additional 558 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in FLEX LNG during the 4th quarter worth $75,000. Finally, Signaturefd LLC raised its position in shares of FLEX LNG by 76.5% during the 4th quarter. Signaturefd LLC now owns 4,941 shares of the company’s stock valued at $113,000 after acquiring an additional 2,141 shares during the last quarter.

FLEX LNG Stock Performance

Shares of FLEX LNG stock opened at $22.56 on Wednesday. The company has a debt-to-equity ratio of 2.11, a current ratio of 2.99 and a quick ratio of 2.96. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 10.35 and a beta of 0.62. FLEX LNG Ltd. has a one year low of $20.85 and a one year high of $30.48. The stock’s 50-day moving average is $23.86 and its 200-day moving average is $24.32.

FLEX LNG (NYSE:FLNG) last released its earnings results on Tuesday, February 4th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the company earned $0.70 earnings per share. Equities analysts predict that FLEX LNG Ltd. will post 1.9 earnings per share for the current fiscal year.

FLEX LNG Announces Dividend

The company 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. The ex-dividend date was Thursday, February 20th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 13.30%. FLEX LNG’s payout ratio is 137.61%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FLNG. Jefferies Financial Group reissued a “hold” rating and issued a $23.00 target price on shares of FLEX LNG in a research note on Tuesday, February 4th. Fearnley Fonds raised shares of FLEX LNG to a “hold” rating in a research note on Monday, February 17th.

FLEX LNG Company Profile

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.