Apollon Wealth Management LLC Purchases New Shares in FLEX LNG Ltd. (NYSE:FLNG)

Apollon Wealth Management LLC purchased a new stake in FLEX LNG Ltd. (NYSE:FLNG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,452 shares of the company’s stock, valued at approximately $240,000.

Several other large investors have also added to or reduced their stakes in FLNG. BNP Paribas Financial Markets raised its position in FLEX LNG by 9.9% in the 1st quarter. BNP Paribas Financial Markets now owns 20,137 shares of the company’s stock worth $512,000 after buying an additional 1,813 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of FLEX LNG by 821.1% during the 1st quarter. Russell Investments Group Ltd. now owns 145,968 shares of the company’s stock valued at $3,712,000 after acquiring an additional 130,121 shares during the period. Vanguard Group Inc. grew its stake in shares of FLEX LNG by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 1,241,810 shares of the company’s stock valued at $31,579,000 after acquiring an additional 21,793 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of FLEX LNG by 13.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,541 shares of the company’s stock valued at $218,000 after acquiring an additional 993 shares during the period. Finally, Virtu Financial LLC grew its stake in shares of FLEX LNG by 32.2% during the 1st quarter. Virtu Financial LLC now owns 9,089 shares of the company’s stock valued at $231,000 after acquiring an additional 2,214 shares during the period.

FLEX LNG Stock Performance

NYSE:FLNG opened at $25.94 on Tuesday. The stock’s fifty day moving average is $25.40 and its 200 day moving average is $26.55. FLEX LNG Ltd. has a fifty-two week low of $22.80 and a fifty-two week high of $31.78. The firm has a market capitalization of $1.38 billion, a PE ratio of 15.26 and a beta of 0.72. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.54 and a current ratio of 2.21.

FLEX LNG Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.00 annualized dividend and a dividend yield of 11.57%. FLEX LNG’s dividend payout ratio is currently 176.47%.

Analyst Ratings Changes

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

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.