Quadrant Capital Group LLC Grows Position in FLEX LNG Ltd. (NYSE:FLNG)

Quadrant Capital Group LLC lifted its position in FLEX LNG Ltd. (NYSE:FLNG) by 465.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,143 shares of the company’s stock after buying an additional 941 shares during the period. Quadrant Capital Group LLC’s holdings in FLEX LNG were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FLNG. State Street Corp boosted its holdings in shares of FLEX LNG by 2.3% during the 3rd quarter. State Street Corp now owns 515,911 shares of the company’s stock valued at $13,125,000 after purchasing an additional 11,695 shares during the last quarter. Geode Capital Management LLC boosted its position in FLEX LNG by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 360,588 shares of the company’s stock valued at $8,272,000 after acquiring an additional 3,411 shares in the last quarter. Denali Advisors LLC lifted its position in shares of FLEX LNG by 19.8% during the fourth quarter. Denali Advisors LLC now owns 236,900 shares of the company’s stock valued at $5,434,000 after buying an additional 39,100 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of FLEX LNG during the fourth quarter worth about $3,890,000. Finally, New York State Common Retirement Fund lifted its stake in shares of FLEX LNG by 41.8% during the fourth quarter. New York State Common Retirement Fund now owns 98,451 shares of the company’s stock worth $2,258,000 after buying an additional 29,000 shares during the period.

FLEX LNG Stock Up 5.0 %

FLEX LNG stock opened at $22.47 on Friday. The stock has a 50-day simple moving average of $22.72 and a 200-day simple moving average of $23.90. The company has a market capitalization of $1.21 billion, a P/E ratio of 10.31 and a beta of 0.42. The company has a debt-to-equity ratio of 2.11, a quick ratio of 2.96 and a current ratio of 2.99. FLEX LNG Ltd. has a fifty-two week low of $19.46 and a fifty-two week high of $30.48.

FLEX LNG (NYSE:FLNG) last posted its quarterly earnings data 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 last year, the business posted $0.70 EPS. Equities research analysts expect that FLEX LNG Ltd. will post 1.9 earnings per share for the current year.

FLEX LNG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Thursday, February 20th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $3.00 annualized dividend and a yield of 13.35%. FLEX LNG’s dividend payout ratio (DPR) is currently 137.61%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FLNG. Fearnley Fonds upgraded FLEX LNG to a “hold” rating in a research note on Monday, February 17th. Jefferies Financial Group reiterated a “hold” rating and issued a $23.00 price objective on shares of FLEX LNG in a research report on Tuesday, February 4th.

FLEX LNG 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.