Flex LNG Ltd. $FLNG Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in Flex LNG Ltd. (NYSE:FLNG) by 17.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,626 shares of the company’s stock after acquiring an additional 1,844 shares during the period. Apollon Wealth Management LLC’s holdings in Flex LNG were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Flex LNG by 69.0% during the 1st quarter. GAMMA Investing LLC now owns 1,102 shares of the company’s stock valued at $25,000 after purchasing an additional 450 shares during the last quarter. State of Wyoming purchased a new stake in Flex LNG in the first quarter valued at approximately $57,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Flex LNG in the first quarter valued at approximately $102,000. Exchange Traded Concepts LLC increased its holdings in Flex LNG by 258.2% in the 1st quarter. Exchange Traded Concepts LLC now owns 4,596 shares of the company’s stock worth $106,000 after buying an additional 3,313 shares during the period. Finally, M&T Bank Corp purchased a new position in Flex LNG during the 1st quarter worth approximately $215,000.

Analyst Ratings Changes

Several research firms have recently commented on FLNG. Wall Street Zen raised shares of Flex LNG from a “sell” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Flex LNG in a report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $23.00 price target on shares of Flex LNG in a research report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.00.

Flex LNG Price Performance

NYSE:FLNG opened at $25.07 on Friday. The company has a debt-to-equity ratio of 2.23, a current ratio of 2.84 and a quick ratio of 2.81. The company has a 50 day moving average price of $25.58 and a 200-day moving average price of $24.19. Flex LNG Ltd. has a 1-year low of $19.46 and a 1-year high of $27.67. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 13.63 and a beta of 0.46.

Flex LNG (NYSE:FLNG) last released its quarterly earnings results on Wednesday, August 20th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. Flex LNG had a net margin of 27.84% and a return on equity of 14.41%. The company had revenue of $86.00 million for the quarter, compared to analyst estimates of $82.44 million. Equities research analysts forecast that Flex LNG Ltd. will post 1.9 EPS for the current year.

Flex LNG Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 12.0%. The ex-dividend date was Friday, September 5th. Flex LNG’s payout ratio is currently 163.04%.

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.